Chinese banks issue RMB 603.4 billion in new local currency loans in June

Monday, 12 July 2010 17:27:39 (GMT+2)

As stated by the People's Bank of China on July 11, Chinese financial institutions issued RMB 603.4 billion in net new local-currency loans in the month of June this year, in line with expectations, but down from RMB 639.4 billion in May and less than 50 percent of the level of RMB 1.53 trillion in June 2009.

At the end of June this year, the balance of broad money supply in China was RMB 67,390 trillion, up 18.5 percent year on year, with this growth rate down 2.5 percentage points on the previous month; meanwhile, China's M1 money supply on the same date was RMB 24,060 trillion, up 24.6 percent year on year, with the increase rate down 5.3 percentage points on the previous month; finally, M0 money supply was RMB 3,890 trillion, up 15.7 percent year on year.

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