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China's M2 up 12.4% year-on-year in Jan

Feb. 13, 2012 (China Knowledge) - China's M2, a broad measure of money supply, was RMB 85.58 trillion at the end of January this year, up 12.4%, compared to a year ago, according to statistics released by the People's Bank of China.

M1, which includes deposits in withdrawal-on-demand accounts and cash in circulation, had risen 3.1% year-on-year to RMB 26.99 trillion at the end of last month. The growth rate was 4.8 percentage points lower than that at the end of December 2011.

M0, or cash in circulation, had increased 3% from a year earlier to RMB 5.98 trillion at the end of January.

The central bank also said that the country's new RMB-denominated loans were RMB 738.1 billion in January, RMB 288.2 billion less than that of December 2011.

At the end of last month, China's had RMB 55.53 trillion in balance of RMB-denominated loans, reflecting a year-on-year increase of 15%. But the growth was 0.8 percentage point lower than that of December 2011.

The country's outstanding RMB deposits had increased 12.4% year-on-year to RMB 80.13 trillion at the end of January 2012. The growth was 1.1 percentage point lower than that at the end of December 2011 and 5 percentage points lower than that as of Jan. 31, 2011.






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