By the end of August, broad money M2 in China reached RMB 57.67 trillion ($8.46 trillion), a year-on-year increase of 28.53 percent. This increase rate was up 10.71 percentage points compared with the end of 2008, and was 0.09 of a percentage point higher than at the end of July this year. Meanwhile, at the end of August narrow money M1 stood at RMB 20.04 trillion ($2.94 trillion), up 27.72 percent year on year. The M1 growth rate was up 1.34 percentage points over the level one month before.
By the end of August, total outstanding bank loans of financial institutions in China stood at RMB 38.52 trillion ($5.65 trillion), up 34.11 percent year on year. This growth rate was up 15.38 percentage points compared with the end of 2008, and was 0.16 of a percentage point higher than at the end of July. Meanwhile, total bank loans issued in China in the first eight months of 2009 reached RMB 8.15 trillion ($1.2 trillion), up RMB 5.04 trillion ($700 billion) year on year. China's new loans in August reached RMB 410.4 billion ($60.2 billion).
In August, the weighted-average interest rate for inter-bank lending in China was 1.21 percent, down 0.11 of a percentage point month on month.