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China's M2 up 12.8% in Apr

May. 14, 2012 (China Knowledge) - China's M2, a broad measure of money supply, was RMB 88.96 trillion at the end of April this year, up 12.8% compared with a year ago, and the growth was 0.6 percentage points lower than a month earlier, according to the latest 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 27.50 trillion at the end of last month. The growth rate was 1.3 percentage points lower than that at the end of March.
M0, or cash in circulation, had increased 10.4% from a year earlier to RMB 5.02 trillion at the end of April.

The central bank also said that the country's new RMB-denominated loans were RMB 681.8 billion in April, RMB 61.2 billion less than in the same month of last year.

At the end of last month, China's had RMB 57.93 trillion in balance of RMB-denominated loans, reflecting a year-on-year increase of 15.4%. The growth was 0.3 percentage points higher than that of March.

The country's outstanding RMB deposits had increased 11.4% year on year to RMB 84.23 trillion at the end of April. Last month, China saw a decrease of RMB 465.6 billion in RMB deposits.

The country's social financing cost was only RMB 959.6 billion last month, RMB 407.7 billion less than in the same period of 2011.

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