China's April financial index higher than expectations

SteelOrbis Shanghai According to the figures from the central government of China, the money supply kept a fast growth in April, with an increase in the amount of bank loans and resident savings. The inter-banks trade was also very brisk. In the end of April, the balance of M2 (money in circulation) was RMB 31.37 trillion ($3.92 trillion), up 18.9% from a year earlier. The balance of bank loans in all the financial institutes was RMB 22.21 trillion ($2.78 trillion,) up 14.8% from a year earlier. The amount of additional RMB bank loans were RMB 317.2 billion ($39.65 billion), up RMB 175 billion ($21.875 billion) than last year. The balance of savings in all the financial institutes was RMB 32.28 trillion ($4.03 trillion), a year-on-year increase of 18.5%.