Balance of loans in Shanghai rises in May

SHANGHAI - The balance of loans in Shanghai stood at 8.96 trillion yuan ($1.39 trillion) at the end of May, up 10.6 percent from the same period last year.

The balance of loans in Chinese yuan reached 8.27 trillion yuan at the end of May, up 11.2 percent year-on-year, and the growth rate was 0.6 percentage points higher than that of the previous month, according to the People's Bank of China Shanghai Head Office.

The balance of foreign currency loans hit $109.6 billion at the end of May, up 17.4 percent year-on-year.

The balance of Shanghai's deposits stood at 16.25 trillion yuan at the end of May, up 12.6 percent year-on-year.