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China's M2 up 13.4% in Mar

Apr. 13, 2012 (China Knowledge) - China's M2, a broad measure of money supply, was RMB 89.56 trillion at the end of March this year, up 13.4% compared with a year ago, and the growth was 0.4 percentage points higher than a month earlier, according to statistics released by the People's Bank of China yesterday.
M1, which includes deposits in withdrawal-on-demand accounts and cash in circulation, had risen 4.4% year on year to RMB 27.80 trillion at the end of last month. The growth rate was 0.1 percentage points higher than that at the end of February.
M0, or cash in circulation, had increased 10.6% from a year earlier to RMB 4.96 trillion at the end of March.

The central bank also said that the country's new RMB-denominated loans were RMB 1.01 trillion in March, RMB 332 billion more than in the same month of last year. In the first quarter, China's new RMB loans amounted to RMB 2.46 trillion, RMB 217 billion more than in the corresponding period of 2011.
At the end of last month, China's had RMB 57.25 trillion in balance of RMB-denominated loans, reflecting a year-on-year increase of 15.7%. The growth was 0.5 percentage points higher than that of February.

The country's outstanding RMB deposits had increased 12.5%% year on year to RMB 84.69 trillion at the end of March.

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