BEIJING - China's yuan-denominated loans rose by 13.53 trillion yuan (about $1.89 trillion) in the first seven months of the year, central bank data showed on Tuesday.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 6.3 percent year-on-year to 303.31 trillion yuan at the end of July.

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The M1, which covers cash in circulation plus demand deposits, stood at 63.23 trillion yuan at the end of July, down 6.6 percent year-on-year.

The scale of social financing was 18.87 trillion yuan in the first seven months of 2024, a decrease of 3.22 trillion yuan compared to the same period last year.

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Within this total, the amount of yuan-denominated loans extended to the real economy increased by 12.38 trillion yuan.

Outstanding yuan loans totaled 251.11 trillion yuan at the end of July, an increase of 8.7 percent year-on-year, the data showed.