BEIJING -- The People's Bank of China (PBOC), the country's central bank, announced Friday that the nation's new yuan-denominated lending reached 586.8 billion yuan ($92.7 billion) in October, up 17.5 billion yuan year-on-year.

New loans last month also represented a sharp increase from 470 billion yuan in September.

By the end of October, the outstanding broad money supply (M2), which covers cash in circulation and all deposits, rose 12.9 percent year-on-year to 81.68 trillion yuan, the PBOC said in a statement on its website.

The narrow measure of money supply (M1), which covers cash in circulation plus demand deposits, increased 8.4 percent year-on-year to 27.66 trillion yuan by the end of last month, the statement said.