OREANDA-NEWS. August 28, 2014. 1. Broad money and narrow money rose by 13.5 percent and 6.7 percent respectively

At end-July, broad money (M2) stood at 119.42 trillion yuan, increasing by 13.5 percent year-on-year,down 1.2 percentage points from a month earlier and 1.0 percentage point from the same period last year. Narrow money (M1) registered 33.13 trillion yuan, rising by 6.7 percent year-on-year, down 2.2 percentage points from a month earlier and 3.0 percentage points from the same period last year. Currency in circulation (M0) posted 5.73 trillion yuan, increasing by 5.4 percent year-on-year. The month saw a net money injection of 39.5 billion yuan.

2. RMB loans increased by 385.2 billion yuan while lending in foreign currencies decreased by USD2.7 billion

At end-July, outstanding RMB and foreign currency loans registered 83.26 trillion yuan, up 13.3 percent year-on-year. Outstanding RMB loans grew by 13.4 percent year-on-year to 78.02 trillion yuan, down 0.6 percentage points from a month earlier and 0.9 percentage points from the same period last year. RMB loans registered an increase of 385.2 billion yuan in July, 314.5 billion yuan less than the growth in the same period last year. By sector, household loans rose by 206.2 billion yuan, with short-term loans and medium and long-term (MLT) loans increasing by 25.9 billion and 180.3 billion yuan respectively; loans to non-financial enterprises and other sectors rose by 177.3 billion yuan, with short-term loans decreasing by 235.6 billion yuan, and MLT loans and bill financing increasing by 208.2 billion and 172.6 billion yuan respectively. At end-July, outstanding foreign currency loans registered USD849.8 billion, up 12.3 percent year-on-year. In July, foreign currency loans dropped by USD 2.7 billion.

3. RMB deposits fell by 1.98 trillion yuan while foreign currency deposits grew by USD 15 billion

At end-July, the outstanding amount of RMB and foreign currency deposits posted 115.38 trillion yuan, up 11.7 percent year-on-year. RMB deposits recorded an outstanding amount of 111.62 trillion yuan, rising by 10.9 percent year-on-year, down 1.7 percentage points from a month earlier and 3.7 percentage points from the same period last year. RMB deposits decreased by 1.98 trillion yuan in July, 1.73 trillion yuan more than the slide in the same period last year. Specifically, household deposits and deposits of non-financial enterprises dropped by 1.08 trillion and 1.35 trillion yuan respectively while fiscal deposits rose by 680.4 billion yuan. At end-July, the outstanding amount of foreign currency deposits was USD 608.6 billion, up 43.4 percent year-on-year. Foreign currency deposits increased by USD 15 billion in July.

4. The monthly weighted average interbank lending rate and the monthly weighted average interest rate on bond pledged repo both stood at 3.41 percent

In July, lending, spot trading and bond repo transactions in the interbank RMB market totaled 27.83 trillion yuan. The average daily turnover posted 1.21 trillion yuan, up 69.5 percent year-on-year.

In July, the monthly weighted average interbank lending rate and the monthly weighted average interest rate on bond pledged repo both stood at 3.41 percent, up 0.56 and 0.52 percentage points from the previous month respectively but down 0.13 and 0.19 percentage points from the same period last year respectively.

5. RMB cross-border trade settlement and RMB settlement of direct investment reached 498.4 billion and 104.3 billion yuan respectively

In July, RMB settlement of cross-border trade in goods, cross-border trade in services and other current account items, outward FDI and inward FDI amounted to 306.7 billion, 191.7 billion, 23.2 billion and 81.1 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.