Money supply rose 25.98%. At end-January 2010, broad money (M2) stood at RMB62.51 trillion, increasing 25.98% year on year, down 1.7 percentage points from the end of last year. Narrow money (M1) registered RMB22.96 trillion, rising 38.96% year on year, up 6.61 percentage points from the end of last year. Cash in circulation (M0) fell 0.79% year on year to RMB4.08 trillion. Net cash injection in the month totaled RMB251.2 billion, down RMB435.2 billion year on year.
RMB and foreign currency loans rose by RMB1.46 trillion in the month, with the former increasing RMB1.39 trillion and the latter adding USD9.4 billion. At end-January, outstanding RMB and foreign currency loans by financial institutions totaled RMB44.02 trillion, up 31.02% year on year. RMB and foreign currency loans saw a growth of RMB1.
46 trillion in January, a deceleration of RMB103.1 billion year on year. At end-January, outstanding RMB loans by financial institutions reached RMB41.37 trillion, up 29.31% year on year, 2.43 percentage points lower than the end of last year. RMB loans increased by RMB1.39 trillion in the month, decelerating by RMB224.
3 billion year on year. By sector, loans to households rose by RMB450.2 billion, with short-term loans and long and medium-term loans increasing by RMB106.9 billion and 343.3 billion respectively; loans to non-financial companies and other sectors grew by RMB941.5 billion: In breakdown, short-term loans and long and medium-term loans were up RMB332.
8 billion and 752.1 billion respectively while bill financing was down RMB180.9 billion. At end-January, outstanding foreign currency loans by financial institutions registered USD388.8 billion, up 65.36% year on year. Foreign currency loans increased by USD9.4 billion in the month, adding USD17.9 billion.
RMB and foreign currency deposits increased by RMB1.514 trillion, with the former rising RMB1.510 trillion and the latter gaining USD700 million. At end-January, outstanding RMB and foreign currency deposits with financial institutions totaled RMB62.72 trillion with a year-on-year growth of 26.77%. In January, RMB and foreign currency deposits rose by RMB1.
514 trillion, accelerating by RMB4.9 billion year on year. Outstanding RMB deposits with financial institutions increased 27.26% year on year to RMB61.29 trillion, down 0.95 percentage points from the end of last year. RMB deposits grew by RMB1.510 trillion in the month, down RMB4.2 billion from the same period last year.
By sector, household deposits, deposits of non-financial companies and fiscal deposits increased by RMB241.5 billion, 882.2 billion and 396.8 billion respectively. In deposits of non-financial companies, those of businesses grew by RMB610.8 billion. At end-January, outstanding foreign currency deposits rose 9.
02% year on year to USD209.3 billion. Foreign currency deposits increased by USD700 million in the month, up USD1.5 billion year on year.
RMB transactions in the inter-bank lending market were brisk and market rates fell slightly. In January 2010, RMB transactions in the inter-bank lending market amounted to RMB11.24 trillion. The average daily turnover posted RMB562.1 billion, rising 39.20%, or RMB158.3 billion, year on year.
In January, the monthly weighted interest rate for inter-bank lending averaged 1.16%, down 0.09 percentage points from last month. The monthly weighted interest rate for bond pledged repo averaged 1.19%, down 0.07 percentage points month on month.
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