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China sees faster M2 growth in Feb

Mar. 12, 2012 (China Knowledge) - China's M2, a broad measure of money supply, was RMB 86.72 trillion at the end of February this year, up 13.0% compared with a year ago, and the growth was 0.6 percentage points higher than a month earlier, 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 4.3% year on year to RMB 27.03 trillion at the end of last month. The growth rate was 1.1 percentage points higher than that at the end of January.

M0, or cash in circulation, had increased 8.8% from a year earlier to RMB 5.14 trillion at the end of February.

The central bank also said that the country's new RMB-denominated loans were RMB 710.7 billion in February, RMB 173 billion more than in the same month of last year.

At the end of last month, China's had RMB 56.24 trillion in balance of RMB-denominated loans, reflecting a year-on-year increase of 15.2%. The growth was 0.2 percentage points higher than that of January.

The country's outstanding RMB deposits had increased 12.6% year on year to RMB 81.74 trillion at the end of February. The growth was 0.2 percentage points higher than that at the end of January but 5.0 percentage points lower than that as of the end of February 2011.






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