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China's money supply growth slows

By Qiang Xiaoji (chinadaily.com.cn)
Updated: 2010-07-15 11:30

The balance of broad money supply (M2), which covers cash in circulation and all deposits, was 67.4 trillion yuan ($9.95 trillion) at the end of June, up 18.5 percent year-on-year, the National Bureau of Statistics (NBS) announced Thursday.

The balance of narrow measure of money supply (M1), cash in circulation plus current corporate deposits, increased 24.6 percent year-on-year to 24.1 trillion yuan by the end of June, the NBS said.

Related readings:  China plans 'proper, sufficient' supply of money, credit in 2010  Central bank expects money supply to grow 17% in 2010  PBOC to prevent 'excessive fluctuations' in money supply next year

The balance of cash in circulation (M0) was 3.9 trillion yuan, up by 15.7 percent, it said.

The amount of outstanding loans of all financial institutions totalled 44.6 trillion yuan, up 4.6 trillion yuan from the beginning of this year but down 2.7 trillion yuan compared with a year ago.

The balance of renminbi deposits was 67.4 trillion yuan, an increase of 7.6 trillion yuan from the beginning of the year, but 2.3 trillion yuan less than a year earlier.