Business / Markets

Broad money supply up 13.5% in August

(Xinhua) Updated: 2012-09-12 09:30

BEIJING -- The People's Bank of China, the central bank, announced Tuesday that the nation's money supply rose in August, though at a slower pace.

The M2, a broad measure of the money supply that covers cash in circulation and all deposits, increased 13.5 percent year-on-year to 92.49 trillion yuan ($14.59 trillion) at the end of August. However, the growth rate was down 0.4 percentage point from the end of July, according to the PBOC data.

The narrow measure of money supply (M1), which covers cash in circulation plus demand deposits, rose 4.5 percent year-on-year to 28.57 trillion yuan at the end of August. The growth rate also dipped by 0.1 percentage point from the end of July.

Meanwhile, M0, which measures cash in circulation, rose 9.7 percent to 5.02 trillion yuan as of the end of August. The net cash injection last month totaled 53 billion yuan, according to the data.

The PBOC also announced earlier Tuesday that the country's new yuan-denominated lending in August rose to 703.9 billion yuan, up 155.5 billion yuan year-on-year.

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