OREANDA-NEWS. April 24, 2013. 1. Broad money and narrow money rose by 15.7 percent and 11.9 percent respectively

At end-March, broad money (M2) stood at 103.61 trillion yuan, increasing by 15.7 percent year-on-year,up 0.5 percentage points from a month earlier and 1.9 percentage points from the end of last year. Narrow money (M1) registered 31.12 trillion yuan, rising by 11.9 percent year-on-year, up 2.4 percentage points from a month earlier and 5.4 percentage points from the end of last year. Currency in circulation (M0) posted 5.57 trillion yuan, increasing by 12.4 percent year-on-year. The first quarter of the year saw a net money injection of 106.5 billion yuan.

2. RMB loans and foreign currency loans increased by 2.76 trillion yuan and USD70.9 billion respectively in Q1

At end-March, outstanding RMB and foreign currency loans registered 70.49 trillion yuan, up 16.0 percent year-on-year. Outstanding RMB loans grew by 14.9 percent year-on-year to 65.76 trillion yuan, decelerating from a month earlier and from the end of last year both by 0.1 percentage points. RMB loans registered an increase of 2.76 trillion yuan in Q1, 294.9 billion yuan more than the growth in the same period last year. By sector, household loans rose by 975.1 billion yuan, with short-term loans and medium and long-term (MLT) loans increasing by 396.7 billion and 578.4 billion yuan respectively; loans to non-financial enterprises and other sectors rose by 1.78 trillion yuan, with short-term loans, MLT loans and bill financing increasing by 765.6 billion, 845.4 billion and 102.9 billion yuan respectively. In March, RMB loans expanded by 1.06 trillion yuan, up 51.5 billion yuan year-on-year. At end-March, outstanding foreign currency loans registered USD 754.3 billion, up 34.8 percent year-on-year. In Q1, foreign currency loans increased by USD 70.9 billion.

3. RMB deposits and foreign currency deposits rose by 6.11 trillion yuan and USD 31.4 billion respectively in Q1

At end-March, the outstanding amount of RMB and foreign currency deposits registered 100.70 trillion yuan, up 16.0 percent year-on-year. RMB deposits recorded an outstanding amount of 97.93 trillion yuan, rising by 15.6 percent year-on-year, up 1.0 percentage point from a month earlier and 2.2 percentage points from the end of last year. RMB deposits rose by 6.11 trillion yuan in Q1, 2.35 trillion yuan more than that recorded for the same period last year. Specifically, household deposits, deposits of non-financial enterprises and fiscal deposits increased by 3.70 trillion, 1.61 trillion and 93.1 billion yuan respectively. In March, RMB deposits rose by 4.22 trillion yuan, up 1.27 trillion yuan year-on-year. At end-March, the outstanding amount of foreign currency deposits was USD 441.6 billion, up 29.2 percent year-on-year. Foreign currency deposits rose by USD 31.4 billion in Q1.

4. The monthly weighted average interbank lending rate for March stood at 2.47 percent and the monthly weighted average interest rate on bond pledged repo posted 2.46 percent

In Q1, RMB lending, spot trading and bond repo transactions in the interbank market totaled 69.81 trillion yuan. The average daily turnover posted 1.16 trillion yuan, up 27.5 percent year-on-year.

The monthly weighted average interbank lending rate for March stood at 2.47 percent, down 0.30 percentage points from the previous month. The monthly weighted average interest rate on bond pledged repo registered 2.46 percent, down 0.43 percentage points from the previous month.

5. Official foreign exchange reserves stood at USD 3.44 trillion

t end-March, China’s foreign exchange reserves stood at USD 3.44 trillion and the RMB exchange rate was 6.2689 yuan per US dollar.

6. RMB cross-border trade settlement and RMB settlement of direct investment reached 1 trillion and 85.4 billion yuan respectively in Q1

In Q1, RMB settlement in cross-border trade in goods, cross-border trade in services and other current accounts, outbound FDI and inbound FDI amounted to 699.2 billion, 304.7 billion, 8 billion and 77.4 billion yuan respectively.

Notes:

1. Data for the current period are preliminary figures.

2. As of October 2011, monetary aggregates have included deposits of housing provident fund centers and non-depository financial institutions’ deposits with depository financial institutions.