Balance of loans up 4.8% in Shanghai by March

The balance of loans in Shanghai stood at 8.01 trillion yuan (about $1.13 trillion) at the end of March, up 4.8 percent year on year, official data showed.

The balance of renminbi loans was 7.39 trillion yuan at the end of March, up 4.6 percent year on year, according to the People's Bank of China Shanghai Head Office.

The balance of foreign currency loans was $86.9 billion at the end of March, up 2.7 percent year on year.

New renminbi loans stood at 204.3 billion yuan in the first quarter, 11.6 billion yuan less than the same period last year.

The balance of Shanghai's deposits stood at 13.89 trillion yuan at the end of March, up 10.8 percent year on year. The balance of renminbi deposits was 12.91 trillion yuan, up 10.9 percent year on year.

New renminbi deposits stood at 574.8 billion yuan in the first quarter, 194.3 billion yuan more than the same period last year.