China's new yuan loans at 3.01 trillion in Q1

China's new yuan-denominated lending in the first quarter amounted to 3.01 trillion yuan ($488.9 billion), according to a statement issued by the central bank on Tuesday.

M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 12.1 percent year on year to 116.07 trillion yuan at the end of March, the People's Bank of China said.