China's yuan-denominated loans rose by 13.53 trillion yuan (about 1.89 trillion U.S. dollars) in the first seven months of this year, central bank data showed on Tuesday.
According to the People's Bank of China, the M2 -- a broad measure of the money supply that includes cash in circulation and all deposits -- rose 6.3 percent year on year to 303.31 trillion yuan (about 42.33 trillion U.S. dollars) at the end of July.
The M1, which covers cash in circulation plus demand deposits, stood at 63.23 trillion yuan (about 8.82 trillion U.S. dollars) at the end of July, down 6.6 percent from the previous year.
According to preliminary statistics, the social financing scale increased to 18.87 trillion yuan (about 2.63 trillion U.S. dollars) in the first seven months, a decrease of 3.22 trillion yuan (about 449 billion U.S. dollars) compared to the same period last year.
At the end of July, outstanding yuan loans totaled 251.11 trillion yuan (about 35.04 trillion U.S. dollars), an increase of 8.7 percent year on year.
China's yuan loans grow by 13.53 trillion yuan in Jan-July: central bank
Chinese President Xi Jinping said Tuesday that China and Russia have found the right way for neighboring major countries to get along with each other, which features non-alliance, non-confrontation and not targeting any third party.
Xi made the remarks when meeting with Russian President Vladimir Putin in Kazan. The Chinese president arrived in the Russian city earlier in the day for the 16th BRICS Summit.
Noting that this year marks the 75th anniversary of the establishment of diplomatic relations between China and Russia, Xi said that over the past years, the relationship between the two countries has weathered challenges.
Both sides, upholding the spirit of lasting good-neighborliness and friendship, comprehensive strategic coordination, and mutually beneficial and win-win cooperation, have continuously deepened and expanded their comprehensive strategic coordination and practical cooperation across various fields, Xi said.
This has injected strong momentum into the development, revitalization, and modernization of both nations and made important contributions to enhancing the well-being of the Chinese and Russian people and upholding international fairness and justice, Xi said.
Noting that the world today is facing momentous transformations unseen in a century, resulting in a fast-changing and turbulent international landscape, Xi expressed confidence that the profound and lasting friendship between China and Russia will not change, nor will their sense of responsibility as major countries for the world and for the people.
Despite complex and severe external challenges, bilateral cooperation in areas such as trade continues to advance, and large-scale joint projects remain stable in operation, Xi said, adding that both countries should further promote the alignment of the Belt and Road Initiative with the Eurasian Economic Union to support their respective high-quality economic development.
Next year marks the 80th anniversary of the founding of the United Nations and the victory of the World Anti-Fascist War, Xi stressed.
China and Russia, both permanent members of the UN Security Council and major countries in the world, should deepen comprehensive strategic coordination, strengthen communication and coordination within multilateral frameworks such as the United Nations and the Shanghai Cooperation Organization, promote a correct view of World War II history, firmly uphold the UN-centered international system, and jointly safeguard global strategic stability and international fairness and justice, Xi said.
The BRICS mechanism is the world's most important platform for solidarity and cooperation between emerging markets and developing countries, Xi said, adding that China highly commends Russia's great efforts as BRICS chair.
Xi voiced expectation of having in-depth discussions with leaders participating in the upcoming summit on the future development of the BRICS mechanism to build consensus among the parties, send a positive message of solidarity and cooperation, and advance strategic coordination and practical cooperation within BRICS in various fields, so as to secure more opportunities for the Global South.
For his part, Putin said that since the establishment of diplomatic ties between Russia and China 75 years ago, the two countries have developed into comprehensive strategic partners of coordination for the new era, with bilateral relations maintaining high-level growth and forging a model for a new type of relationship between major countries.
Thanks to joint efforts from both sides, the Russia-China cooperation, based on equality, mutual respect, and mutual benefit, continues to advance, and the activities of the Russia-China Years of Culture have been successfully held, he said, adding that Russia stands ready to further deepen cooperation with China and boost the development and revitalization of both countries.
Noting that next year marks the 80th anniversary of the end of World War II, Putin said that both Russia and China made tremendous sacrifices for victory in the World Anti-Fascist War, and that Russia is willing to commemorate this important milestone together with China.
Russia is also ready to maintain close high-level exchanges and strategic communication and coordination with China in international affairs, and work with China to uphold international fairness and justice as well as global strategic stability, he added.
Putin thanked China for its support during Russia's presidency of BRICS, stressing that Russia is ready to closely cooperate with China to ensure the success of the first BRICS Summit after its expansion, driving positive outcomes in greater BRICS cooperation.
The two heads of state also made in-depth exchange of views on major international and regional issues of common concern.
China, Russia find right way for neighboring major countries to get along with each other: Xi
China, Russia find right way for neighboring major countries to get along with each other: Xi
