China sees steady growth in aggregate social financing and broad money supply

China's aggregate social financing and broad money supply posted steady growth in October, official data showed Thursday, reflecting continued accommodative monetary policy aimed at supporting the real economy.

According to preliminary statistics, the country's aggregate social financing — the total amount of financing to the real economy — stood at 30.9 trillion yuan ($4.35 trillion) in the first 10 months of the year, up by 3.83 trillion yuan from the same period last year, said the People's Bank of China, the country's central bank.

The PBOC said that the country's outstanding aggregate social financing reached 437.72 trillion yuan as of the end of October, up 8.5 percent year-on-year.

The broad money supply, or M2, reached 335.13 trillion yuan at the end of last month, up 8.2 percent year-on-year, the central bank said.

Meanwhile, the country's narrow money supply, or M1, which represents how much money is actively being used in the economy, grew by 6.2 percent year-on-year to 112 trillion yuan.

China's new yuan-denominated loans totaled 14.97 trillion yuan in the first 10 months of the year, the PBOC said.