Money supply grew 25.74%. At end-May 2009, broad money (M2) stood at RMB 54.82 trillion, increasing 25.74% year on year, up 7.92 percentage points from the end of last year but down 0.21 percentage points from the end of last month. Narrow money (M1) registered RMB 18.2 trillion, rising 18.69% year on year, up 1.21 percentage points from the end of last month. Cash in circulation (M0) grew 11.24% year on year to RMB 3.36 trillion. Net cash withdrawal from January to May totaled RMB 65.9 billion, up RMB 70.8 billion year on year.
RMB loans increased by RMB 664.5 billion in the month. At end-May, outstanding RMB loans reached RMB 36.21 trillion, up 30.6% year on year, 11.87 and 0.88 percentage points higher than the end of last year and the end of last month respectively. In May, RMB loans increased by RMB 664.5 billion, up RMB 346 billion year on year.
By sector, loans to households rose by RMB 187.6 billion, up RMB 118.3 billion year on year, with short-term loans and long and medium-term loans increasing by RMB 86.8 billion and 100.8 billion respectively. Loans to non-financial companies and other sectors grew by RMB 476.9 billion, up RMB 227.8 billion year on year.
In breakdown, short-term loans, long and medium-term loans and bill financing increased by RMB 21.2 billion, 348.5 billion and 86.2 billion respectively. From January to May, RMB loans rose by RMB 5.84 trillion, accelerating by RMB 3.72 trillion year on year. At end-May, outstanding foreign currency loans of financial institutions totaled USD 258.
2 billion, down 4.95% year on year. Foreign currency loans increased by USD 15.4 billion in the month, up USD 12.4 billion year on year.
At end-May, outstanding RMB and foreign currency loans of financial institutions added up to RMB 37.98 trillion, rising 28.26% year on year. RMB and foreign currency loans increased by RMB 771.9 billion in the month, accelerating by RMB 446.8 billion year on year.
RMB deposits grew by RMB 1.33 trillion in the month. At end-May, outstanding RMB deposits of financial institutions increased 26.67% year on year to RMB 54.63 trillion, 6.94 and 0.46 percentage points higher than the end of last year and the end of last month respectively. RMB deposits registered an increase of RMB 1.
33 trillion in the month, up RMB 432.5 billion year on year. By sector, household deposits grew by RMB 188.6 billion, down RMB 47.8 billion year on year; deposits of non-financial companies rose by RMB 669.8 billion, up RMB 281.8 billion year on year; fiscal deposits increased by RMB 447.4 billion, up RMB 177.
7 billion year on year. In deposits of non-financial companies, those of enterprises saw a RMB 571.1 billion rise, representing a year-on-year growth of RMB 235 billion. From January to May, RMB deposits increased by RMB 7.98 trillion, up RMB 3.79 trillion year on year. At end-May, outstanding foreign currency deposits of financial institutions rose 18.
21% year on year to USD 206.1 billion. Foreign currency deposits rose by USD 1.9 billion in the month, down USD 8.1 billion year on year.
Outstanding RMB and foreign currency deposits of financial institutions totaled RMB 56.03 trillion with a year-on-year growth of 26.38%. RMB and foreign currency deposits increased by RMB 1.35 trillion in the month, up RMB 386 billion year on year.
RMB transactions in the inter-bank lending market were brisk and market rates were stable. In May 2009, RMB transactions in the inter-bank lending market amounted to RMB 10.57 trillion. The average daily turnover reached RMB 556.2 billion, increasing by 41.3%, or RMB 162.6 billion, year on year.
In May, the monthly weighted interest rate for inter-bank lending averaged 0.85%, down 0.01 and 1.98 percentage points from last month and the same period last year respectively. The monthly weighted interest rate for bond pledged repo averaged 0.85%, up 0.01 percentage points month on month but down 2.03 percentage points year on year.
