1. Broad money rises by 17.2%
At end-January, broad money (M2) stood at RMB73.56 trillion, increasing by 17.2% year on year, down 2.5 and 8.9 percentage points from the end of last year and the same period last year respectively; narrow money (M1) registered RMB26.31 trillion, rising by 13.6% year on year, down 7.6 and 25.4 percentage points from the end of last year and the same period last year respectively; currency in circulation (M0) recorded an amount of RMB5.81 trillion, up 42.5% year on year. M0 increased by RMB1.35 trillion in January due to factors related to the Spring Festival.
2. RMB and foreign currency loans increase by RMB1.11 trillion with RMB loans and those in foreign currency rising by RMB1.04 trillion and USD13 billion respectively
At end-January, outstanding RMB and foreign currency loans totaled RMB51.40 trillion, up 18.3% year on year. RMB and foreign currency loans increased by RMB1.11 trillion in January, RMB311.3 billion smaller than the growth in the same period last year. Outstanding RMB loans registered RMB48.35 trillion, up 18.
5% year on year, decelerating by 1.4 and 10.8 percentage points from the end of last year and the same period last year respectively. RMB loans rose by RMB1.04 trillion in the month, RMB318.2 billion less than the increase in the same period last year. By sector, loans to households expanded by RMB330.
6 trillion, with short-term loans and long and medium-term loans increasing by RMB136.3 billion and 194.3 billion respectively; loans to non-financial enterprises and other sectors rose by RMB690.5 billion: in particular, short-term loans and long and medium-term loans increased by RMB267.5 billion and 483.
4 billion respectively while bill financing decreased by RMB81 billion. Outstanding foreign currency loans registered RMB463.6 billion, up 19.5% year on year. Foreign currency loans increased by USD13 billion in January.
3. RMB and foreign currency deposits decrease by RMB32.3 billion, with RMB deposits and those in foreign currency falling by RMB20.3 billion and USD700 million respectively
At end-January, outstanding RMB and foreign currency deposits totaled RMB72.71 trillion, up 16.9% year on year. RMB and foreign currency deposits dropped by RMB32.3 billion, RMB1.44 trillion less than the increase in the same period last year. Outstanding RMB deposits registered RMB71.23 trillion, rising by 17.3% year on year, down 2.9 and 10.0 percentage points from the end of last year and the same period last year respectively. RMB deposits dropped by RMB20.3 billion in January, RMB1.41 trillion less than the increase in the same period last year. In particular, household deposits and fiscal deposits increased by RMB1.42 trillion and 238.5 billion respectively while deposits of non-financial enterprises fell by RMB1.27 trillion. Outstanding foreign currency deposits rose by 5.1% year on year to USD225 billion. In January, foreign currency deposits decreased by USD700 million.
4. The interbank market sees brisk trading and market rates go up markedly
In January 2011, RMB transactions in the interbank market amounted to RMB12.60 trillion. The average daily turnover registered RMB599.9 billion, increasing by 6.7% year on year.
In January, the monthly weighted average interbank lending rate stood at 3.70%, up 0.78 percentage points from the previous month. The monthly weighted average interest rate on bond pledged repo registered 4.29%, 1.17 percentage points higher than the previous month.
