Balance of loans up 5.7% in Shanghai

The balance of loans in Shanghai stood at 8.1 trillion yuan ($ 1.14 trillion) at the end of May, up 5.7 percent year-on-year, data showed.

The balance of loans in the Chinese yuan, or the renminbi (RMB), was 7.44 trillion yuan at the end of May, up 4.9 percent year-on-year, and the growth rate was the same as the end of April, according to the People's Bank of China Shanghai Head Office.

The balance of foreign currency loans was $93.3 billion at the end of May, up 12.1 percent year-on-year.

New RMB loans hit 24.7 billion yuan in May, 2.9 billion yuan more than the same period last year.

The balance of Shanghai's deposits stood at 14.43 trillion yuan at the end of May, up 13.5 percent year-on-year. The balance of RMB deposits was 13.48 trillion yuan, up 14.2 percent year-on-year.

New RMB deposits stood at 69.6 billion yuan in May, 65.7 billion yuan more than the same period last year.