BEIJING -- China's new yuan-denominated loans hit 710.7 billion yuan ($112.81 billion) in February, up 173 billion yuan year-on-year, the central bank said Friday.

By the end of February, the outstanding broad money supply (M2), which covers cash in circulation and all deposits, rose 13 percent year-on-year to 86.72 trillion yuan, the People's Bank of China said in a statement on its website.

M2 growth in February was 0.6 percentage points faster than that at the end of January, according to the statement.

The narrow measure of money supply (M1), which covers cash in circulation plus demand deposits, rose 4.3 percent year-on-year to 27.03 trillion yuan by the end of last month, the statement said.

February's M1 growth was 1.1 percentage points higher than that at the end of January.