PBOC reports money supply growth slowdown

Money supply and credit loans growth rates dropped in July as a result of the government's effective macro-economic control policy, China's central bank said on Wednesday 11 August in its monthly report on financial performance.

According to the report, outstanding broad money, or M2 -- including money in circulation and all deposits -- rose by 15.3 percent year-on-year to 23.8 trillion yuan (2.9 trillion US dollars) by the end of July. The increase was 0.9 percentage points lower than at the