BEIJING -- China's new yuan-denominated loans stood at 3.23 trillion yuan ($477 billion) in January 2019, up 328.4 billion yuan year-on-year, central bank data showed Friday.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, rose 8.4 percent year-on-year to 186.59 trillion yuan at the end of January, according to the People's Bank of China.