China's April new loans drop

BEIJING, May 10 (Xinhua) -- China's new yuan-denominated lending dropped to 792.9 billion yuan (127.85 billion U.S. dollars) in April, down from 1.06 trillion yuan in March, the central bank said Friday.

The amount was an increase of 111.1 billion yuan than the same period last year, the People's Bank of China said in a statement.

New loans in foreign currencies increased by 13.6 billion U.S. dollars last month, with an outstanding account topping 767.9 billion U.S. dollars by the end of April, the figures showed.

The country's social financing, a measure of funds raised by entities in the real economy, amounted to 1.75 trillion yuan in April, an increase of 783.3 billion yuan from last year.

By the end of April, the broad measure of money supply (M2), which covers cash in circulation and all deposits, increased 16.1 percent year on year to 103.26 trillion yuan. The rise was up 0.4 percentage points from the rate recorded in March, the figures showed.

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