Money supply rose 21.48%. At end-April 2010, broad money (M2) stood at RMB65.66 trillion, increasing 21.48% year on year, down 1.01 and 4.47 percentage points from the end of last month and the same period last year respectively. Narrow money (M1) registered RMB23.39 trillion, rising 31.25% year on year, up 1.31 and 13.77 percentage points from the end of last month and the same period last year respectively. Cash in circulation (M0) grew 15.76% year on year to RMB3.97 trillion. Net cash injection in the month was RMB57.7 billion, up RMB6.6 billion year on year.
RMB and foreign currency loans rose by RMB809.3 billion in the month, with the former increasing RMB774 billion and the latter adding USD5.2 billion. At end-April, outstanding RMB and foreign currency loans totaled RMB46.17 trillion, up 24.11% year on year. In April, RMB and foreign currency loans grew by RMB809.3 billion, up RMB168.5 billion year on year. Ooans to non-financial companies and other sectors grew by RMB448.2 billion, with short-term loans, long and medium-term loans and bill financing rising by RMB46.7 billion, 325.9 billion and 47 billion respectively. At end-April, outstanding foreign currency loans by financial institutions registered USD413.4 billion, up 70.32% year on year. Foreign currency loans increased by USD5.2 billion in the month. utstanding RMB loans by financial institutions reached RMB43.35 trillion, up 21.96% year on year, 0.15 percentage points higher than the end of last month but 7.76 percentage points lower than the same period last year. RMB loans increased by RMB774 billion in the month, accelerating by RMB182.2 billion year on year. By sector, loans to households rose by RMB325.5 billion, with short-term loans and long and medium-term loans increasing by RMB95.2 billion and 230.3 billion respectively; l
RMB and foreign currency deposits increased by RMB1.12 trillion, with the former rising by RMB1.18 trillion and the latter falling by USD9 billion. At end-April, outstanding RMB and foreign currency deposits with financial institutions totaled RMB66.39 trillion with a year-on-year growth of 21.39%. In April, RMB and foreign currency deposits rose by RMB1.12 trillion, accelerating by RMB64.2 billion year on year. Outstanding RMB deposits with financial institutions increased 21.95% year on year to RMB64.99 trillion, up 0.14 and 4.26 percentage points from the end of last month and the same period last year respectively. RMB deposits grew by RMB1.18 trillion in the month, up RMB150.3 billion year on year. In breakdown, household deposits dropped by RMB41.9 billion while deposits of non-financial companies and fiscal deposits increased by RMB823.5 billion and 344.1 billion respectively. At end-April, outstanding foreign currency deposits rose 0.07% year on year to USD204.3 billion. Foreign currency deposits fell by USD9 billion in the month.
RMB transactions in the interbank market were brisk and market rates went down. In April 2010, RMB transactions in the interbank market amounted to RMB13.69 trillion. The average daily turnover posted RMB651.8 billion, rising 27.79%, or RMB141.8 billion, year on year.
In April, the monthly weighted average interbank lending rate stood at 1.34%, down 0.06 percentage points from last month. The monthly weighted average interest rate on bond pledged repo registered 1.36%, down 0.04 percentage points month on month.
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