Money supply rose 29.74%. At end-November 2009, broad money (M2) stood at RMB59.46 trillion, increasing 29.74% year on year, up 11.92 and 0.23 percentage points from the end of last year and the end of last month respectively. Narrow money (M1) registered RMB21.25 trillion, rising 34.63% year on year, up 2.60 percentage points from the end of last month. Cash in circulation (M0) grew 14.99% year on year to RMB3.63 trillion. Net cash injection from January to November totaled RMB212.5 billion, up RMB63.8 billion year on year.
RMB and foreign currency loans rose by RMB407.5 billion in the month, with the former increasing RMB294.8 billion and the latter adding USD16.6 billion. At end-November, outstanding RMB and foreign currency loans totaled RMB42.16 trillion, up 34.74% year on year. In the January-November period, RMB and foreign currency loans saw a RMB10.12 trillion growth, an acceleration of RMB5.86 trillion year on year. In November, RMB and foreign currency loans rose by RMB407.5 billion. Outstanding RMB loans of financial institutions reached RMB39.59 trillion, up 33.79% year on year, 15.06 percentage points higher than the end of last year but 0.40 percentage points lower than the end of last month. From January to November, RMB loans increased by RMB9.21 trillion, accelerating by RMB5.06 trillion year on year. In November, RMB loans increased by RMB294.8 billion. By sector, loans to households rose by RMB237.7 billion, with short-term loans and long and medium-term loans increasing by RMB36.5 billion and 201.2 billion respectively. Loans to non-financial companies and other sectors grew by RMB57 billion. In breakdown, short-term loans and bill financing were down RMB20.5 billion and 108.5 billion respectively while long and medium-term loans were up RMB162.6 billion. At end-November, outstanding foreign currency loans of financial institutions registered USD376.2 billion, up 51.47% year on year. Foreign currency loans increased by USD16.6 billion in the month.
RMB and foreign currency deposits increased by RMB591.1 billion in the month, with the former rising RMB582.4 billion and the latter gaining USD1.3 billion. At end-November, outstanding RMB and foreign currency deposits of financial institutions totaled RMB60.67 trillion with a year-on-year growth of 27.55%. In the January-November period, RMB and foreign currency deposits rose by RMB12.71 trillion, accelerating by RMB5.24 trillion year on year. RMB and foreign currency deposits increased by RMB591.1 billion in the month. Outstanding RMB deposits of financial institutions increased 28.19% year on year to RMB59.27 trillion, up 8.46 percentage points year on year but down 0.14 percentage points month on month. From January to November, RMB deposits grew by RMB12.63 trillion, up RMB5.32 trillion from the same period last year. RMB deposits registered an increase of RMB582.4 billion in the month. By sector, household deposits, deposits of non-financial companies and fiscal deposits increased by RMB53.3 billion, 476.8 billion and 73 billion respectively. In deposits of non-financial companies, those of enterprises grew by RMB315.4 billion. At end-November, outstanding foreign currency deposits rose 5.41% year on year to USD204.9 billion. Foreign currency deposits were up USD1.3 billion in the month.
RMB transactions in the inter-bank lending market were stable and market rates fell slightly. In November 2009, RMB transactions in the inter-bank lending market amounted to RMB10.88 trillion. The average daily turnover posted RMB518.3 billion, falling 3.41%, or RMB18.3 billion, year on year.
In November, the monthly weighted interest rate for inter-bank lending averaged 1.25%, down 0.05 percentage points from last month. The monthly weighted interest rate for bond pledged repo averaged 1.24%, down 0.06 percentage points month on month.
