File photo of a Chinese clerk counts yuan banknotes at a branch of Bank of China in Nantong city, East China's Jiangsu province, July 23, 2018. (PHOTO / IC)

BEIJING - China’s new yuan-denominated loans hit 1.43 trillion yuan (about 218.99 billion US dollars) in November, a year-on-year increase of 45.6 billion yuan, data from the central bank showed Wednesday.

The country's M2, a broad measure of money supply that covers cash in circulation and all deposits, rose 10.7 percent year on year to 217.2 trillion yuan at the end of November, the People's Bank of China said.

The country's M2, a broad measure of money supply that covers cash in circulation and all deposits, rose 10.7 percent year on year to 217.2 trillion yuan at the end of November, the People's Bank of China said

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The growth rate was 0.2 percentage points higher than that at the end of October, and up 2.5 percentage points from the same period last year, the central bank said.

The narrow measure of money supply (M1), which covers cash in circulation plus demand deposits, came in at 61.86 trillion yuan at the end of November, up 10 percent from the same period last year.

M0, the amount of cash in circulation, climbed 10.3 percent year on year to 8.16 trillion yuan at the end of last month.

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Newly-added social financing, a measurement of funds the real economy receives from the financial system, came in at 2.13 trillion yuan in November, up 140.6 billion yuan year on year.

By the end of November, total social financing hit 283.25 trillion yuan, an increase of 13.6 percent year on year.

China will use a variety of tools, such as required reserve ratio reductions, interest rate cuts, and re-lending, to enable M2 money supply and aggregate financing to grow at notably higher rates than last year, according to this year's government work report.