China’s new yuan-denominated lending in November hit 708.9 billion yuan ($110.8 billion), up from 513.6 billion yuan posted in October, official data showed on Dec 11.

M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 13.7 percent year-on-year to 137.4 trillion yuan at the end of November, the People’s Bank of China said in a statement on its website.

The narrow measure of money supply (M1), which covers cash in circulation plus demand deposits, rose 15.7 percent year-on-year to 38.8 trillion yuan, the statement said.