14 November 2018

China M2 surged 13.6% last year, PBoC says

China’s outstanding broad money supply (M2) was 110.65 trillion yuan (US$18.30 trillion) by the end of 2013, up 13.6 percent from a year earlier, according to data released by the Bank of China (PBoC) Wednesday. Sheng Songcheng {盛松城}, head of statistics division at the PBoC, said in an online news conference that the M2 growth rate was 0.2 percentage point lower than the level seen at the end of 2012. M1, the narrow measure of money supply, rose 9.3 percent from a year ago to 33.73 trillion yuan, the data showed. Net cash injection last year was 389.9 billion yuan. Meanwhile, total outstanding loans, in both renminbi and foreign currencies, at Chinese financial institutions were up 13.9 percent on year at 76.63 trillion yuan while deposit balance stood at 107.06 trillion yuan, up 13.5 percent.

– Contact HKEJ at [email protected]



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