China’s new bank loans in 2009 total RMB 9.59 trillion

Monday, 18 January 2010 11:41:58 (GMT+2)   -  

Tags: China , Far East , economics | similar articles » SteelOrbis News

In 2009 China's financial system was characterized by sufficient levels of liquidity, while there was a rapid increase in the issuing of loans by Chinese banks. China's new bank loans in 2009 amounted to RMB 9.59 trillion, up RMB 4.69 trillion year on year.


Meanwhile, by the end of December 2009, broad money M2 in China reached RMB 60.62 trillion, a year-on-year increase of 27.68 percent. This increase rate was up 9.86 percentage points compared with the end of 2008, and was 2.06 percentage points lower than at the end of November 2009. Meanwhile, at the end of December narrow money M1 stood at RMB 22 trillion, up 32.35 percent year on year. The M1 growth rate was down 2.28 percentage points over the level one month before and was up 23.29 percentage points year on year. Money in circulation (M0) grew 11.77 percent year on year to RMB 3.82 trillion. Meanwhile, net cash flow in 2009 totaled RMB 402.7 billion, a decline of RMB 7.1 billion.

By the end of December, total outstanding bank loans of financial institutions in China stood at RMB 39.97 trillion, up 31.74 percent year on year. This growth rate was up 13.01 percentage points compared with the end of 2008, and was 2.05 percentage points lower than at the end of November 2009.

By the end of December, total deposits at Chinese financial institutions amounted to RMB 59.77 trillion, up 28.21 percent year on year. This increase rate was up 8.48 percentage points compared with the end of 2008, and was 0.02 of a percentage point higher than at the end of November 2009.