China's new yuan loans up in October

BEIJING - China's new yuan-denominated lending in October hit 514 billion yuan ($80.8 billion), up 48 billion yuan from a year earlier, official data showed Thursday.

M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 13.5 percent year on year to 136 trillion yuan at the end of October, the People's Bank of China said in a statement on its website.

The narrow measure of money supply (M1), which covers cash in circulation plus demand deposits, rose 14 percent year on year to 37.6 trillion yuan at the end of last month, the statement said.