China economic news

CNC
Added On April 15, 2019

INTRO
Now, let's take a look at some economic news from China.
 
PKG
 
DIGITAL READING MARKET GROWS 19.6 PCT IN 2018
 
The value of China's digital reading market reached about 3.8 billion U.S. dollars last year, up 19.6 percent year on year.
 
According to China Audio-Video and Digital Publishing Association,  last year, about 432 million Chinese read digital publications on electronic devices, such as personal computers, mobile phones, tablet computers and e-readers.
 
The respondents read an average of 12.4 digital publications per person last year, and over 66 percent said they were willing to pay for digital publications.
 
The report also said the advent of the 5G era would improve the reading experience for Chinese readers.
 
NEW YUAN LOANS EXPAND IN MARCH
 
China's new yuan-denominated loans stood at 1.69 trillion yuan, about 251 billion U.S. dollars in March.
 
According to the central bank, in the first three months, the country's new yuan-denominated loans increased by 952.6 billion yuan, or about 142 billion U.S. dollars year on year.
 
The seasonal surge in new yuan loans contributed mainly to the growth in the first quarter this year.
 
The M2, a broad measure of money supply that covers cash in circulation and all deposits, rose 8.6 percent year on year at the end of March.