China’s new loans rise by RMB 766.5 billion in February

Thursday, 11 March 2010 16:45:24 (GMT+2)

In February this year, total new loans issued in China in both local and foreign currency reached RMB 766.5 billion ($112.25 billion), with RMB 700.1 billion in local currency and $9.7 billion in foreign currency. In the month in question, deposits of local and foreign currency in China increased by RMB 975.8 billion ($142.9 billion), with an increase of RMB 958.9 billion in local currency deposits and a rise of $2.5 billion in foreign currency.

By the end of February, broad money (M2) in China reached RMB 63.6 trillion ($9.31 trillion), up 25.52 percent year on year, down 0.56 percentage points on the year-on-year increase rate in the previous month. Meanwhile, narrow money supply (M1) reached RMB 22.43 trillion ($3.28 trillion), rising by 34.99 percent year on year, 3.97 percentage points lower than the year-on-year increase rate in January. The amount of currency in circulation (M0) in China totaled RMB 4.29 trillion ($628.24 billion) at the end of February, climbing up by 21.98 percent year on year.

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