China's new yuan loans shrinks in October

BEIJING - China's new yuan-denominated lending in October shrank by nearly half from a month ago to 651.3 billion yuan ($95.78 billion), official data showed on Friday.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, rose 11.6 percent year on year to 151.95 trillion yuan by 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 23.9 percent year on year to 46.54 trillion yuan.