China's November new loans see year-on-year fall (2)

The narrow measure of money supply (M1), which covers cash in circulation plus current corporate deposits, rose 5.5 percent year on year to 29.69 trillion yuan. The growth rate was 0.6 percentage points lower than the figure for October.

The outstanding amount of cash in circulation (M0) amounted to 5.24 trillion yuan, up 10.7 percent from the same period last year.

In November, the net amount of cash put into circulation stood at 92.4 billion yuan, according to the PBOC statement.

Total yuan-denominated deposits at all financial institutions stood at 92.77 trillion yuan, an increase of 14.3 percent from a year earlier.

Nomura economist Zhang Zhiwei said the PBOC will likely maintain a stable credit scale over the next few months, as the scale is high enough to support an economic rebound.

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