Balance of loans in Shanghai up 8.8% at end of May

SHANGHAI -- The balance of loans in Shanghai, including all currencies, stood at 10.83 trillion yuan (about $1.51 trillion) at the end of May, up 8.8 percent year-on-year, official data showed.

The balance of loans in Chinese yuan rose 10.8 percent year-on-year to 10.18 trillion yuan at the end of last month, according to the People's Bank of China Shanghai Head Office.

The balance of loans in foreign currencies reached $91 billion at the end of May, down 20.3 percent year-on-year.

At the end of last month, the balance of Shanghai's deposits climbed 7 percent on a yearly basis to 19.63 trillion yuan, the data revealed.