Broad money rose 17.6%. At end-July, broad money (M2) stood at RMB67.41 trillion, increasing 17.6% year on year, down 0.9 percentage points month on month and 10.8 percentage points year on year. Narrow money (M1) registered RMB24.07 trillion, rising 22.9% year on year, down 1.7 percentage points month on month and 3.5 percentage points year on year. Cash in circulation (M0) grew 15.5% year on year to RMB3.95 trillion. Net cash injection in the month registered RMB63.8 billion, up RMB4 billion year on year.
RMB and foreign currency loans rose RMB488.1 billion, with the former increasing RMB532.8 billion and the latter falling USD5.6 billion. At end-July, outstanding RMB and foreign currency loans totaled RMB47.89 trillion, up 19.1% year on year. In July, RMB and foreign currency loans grew RMB488.1 billion, up RMB43.
6 billion year on year. Outstanding RMB loans reached RMB45.14 trillion, up 18.4% year on year, 0.2 percentage points higher than end-June but 15.6 percentage points lower than the same period last year. RMB loans increased RMB532.8 billion in the month, up RMB163.7 billion year on year. By sector, loans to households rose RMB172 billion, with short-term loans and long and medium-term loans increasing RMB46 billion and 126 billion respectively; loans to non-financial enterprises and other sectors grew RMB359.
6 billion, with short-term loans and long and medium-term loans rising RMB52.7 billion and 327.4 billion respectively and bill financing falling RMB43.6 billion. Outstanding foreign currency loans registered USD406.1 billion, up 32.5% year on year. Foreign currency loans dropped USD5.6 billion in the month.
RMB and foreign currency deposits increased RMB168.6 billion, with the former rising RMB160.9 billion and the latter USD1.6 billion. At end-July, outstanding RMB and foreign currency deposits totaled RMB69.02 trillion, up 18.1% year on year. In July, RMB and foreign currency deposits rose RMB168.6 billion, down RMB237.
2 billion year on year. Outstanding RMB deposits increased 18.5% year on year to RMB67.57 trillion, down 0.5 percentage points month on month and 10.1 percentage points year on year. RMB deposits grew RMB160.9 billion in the month, down RMB249.4 billion year on year. In breakdown, household deposits and deposits of non-financial enterprises declined RMB42.
5 billion and 184.5 billion respectively while fiscal deposits increased RMB328.2 billion. Outstanding foreign currency deposits grew 3.3% year on year to USD214.3 billion. Foreign currency deposits rose USD1.6 billion in the month.
RMB transactions in the interbank market were brisk and market rates dropped markedly. In July 2010, RMB transactions in the interbank market amounted to RMB17.24 trillion. The average daily turnover posted RMB783.4 billion, rising 38.4% year on year.
In July, the monthly weighted average interbank lending rate stood at 1.67%, down 0.64 percentage points from the previous month. The monthly weighted average interest rate on bond pledged repo registered 1.68%, down 0.70 percentage points month on month.
