Money supply rose 25.52%. At end-February 2010, broad money (M2) stood at RMB63.6 trillion, increasing 25.52% year on year, down 0.56 percentage points from the end of last month. Narrow money (M1) registered RMB22.43 trillion, rising 34.99% year on year, down 3.97 percentage points from the end of last month. Cash in circulation (M0) rose 21.98% year on year to RMB4.29 trillion. Net cash injection in the month totaled RMB210.7 billion, up RMB804.8 billion year on year.
RMB and foreign currency loans rose by RMB766.5 billion, with the former increasing RMB700.1 billion and the latter adding USD9.7 billion. At end-February, outstanding RMB and foreign currency loans by financial institutions totaled RMB44.79 trillion, up 29.29% year on year. RMB and foreign currency loans saw a growth of RMB766.
5 billion in February, a deceleration of RMB276.2 billion year on year. Outstanding RMB loans by financial institutions reached RMB42.07 trillion, up 27.23% year on year, 2.08 percentage points lower than the end of last month. RMB loans increased by RMB700.1 billion in the month, decelerating by RMB371.
4 billion year on year. By sector, loans to households rose by RMB199.4 billion, up RMB155.4 billion year on year, with short-term loans and long and medium-term loans increasing by RMB46.4 billion and 153 billion respectively; loans to non-financial companies and other sectors grew by RMB507.4 billion, down RMB520 billion year on year: In breakdown, short-term loans and long and medium-term loans were up RMB196 billion and 508.
8 billion respectively while bill financing was down RMB174.4 billion. At end-February, outstanding foreign currency loans by financial institutions registered USD398.6 billion, up 72.59% year on year. Foreign currency loans increased by USD9.7 billion in the month.
RMB and foreign currency deposits increased by RMB975.8 billion, with the former rising RMB958.9 billion and the latter gaining USD2.5 billion. At end-February, outstanding RMB and foreign currency deposits with financial institutions totaled RMB63.69 trillion with a year-on-year growth of 24.5%. In February, RMB and foreign currency deposits rose by RMB975.
8 billion, decelerating by RMB709.2 billion year on year. Outstanding RMB deposits with financial institutions increased 24.97% year on year to RMB62.25 trillion, down 2.29 percentage points from the end of last month. RMB deposits grew by RMB958.9 billion in the month, down RMB691.8 billion from the same period last year.
By sector, household deposits increased by RMB1.5637 trillion while deposits of non-financial companies and fiscal deposits decreased by RMB481.9 billion and 111.2 billion respectively. In deposits of non-financial companies, those of businesses dropped by RMB409.2 billion. At end-February, outstanding foreign currency deposits rose 7.
5% year on year to USD211.8 billion. Foreign currency deposits increased by USD2.5 billion in the month.
RMB transactions in the interbank market were stable and market rates went up. In February 2010, RMB transactions in the interbank market amounted to RMB8.76 trillion. The average daily turnover posted RMB515.1 billion, rising 6.27%, or RMB30.4 billion, year on year.
In February, the monthly weighted interest rate for interbank funding averaged 1.52%, up 0.36 percentage points from last month. The monthly weighted interest rate for bond pledged repo averaged 1.55%, up 0.36 percentage points month on month.
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