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China's M2 up 13.5% in Aug

Sep. 12, 2012 (China Knowledge) - China's M2, a broad measure of money supply, was RMB 92.49 trillion at the end of August this year, up 13.5% compared with a year ago, and the growth was 0.4 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 4.5% YoY to RMB 28.57 trillion at the end of last month. The growth rate was 0.1 percentage points lower than that at the end of July.
 
M0, or cash in circulation, had increased 9.7% from a year earlier to RMB 5.02 trillion at the end of August.
 
The central bank also said that the country's new RMB-denominated loans were RMB 703.9 billion in August, RMB 155.5 billion more than in the same month of last year.

At the end of last month, China's had RMB 60.89 trillion in the balance of RMB-denominated loans, reflecting a YoY increase of 16.1%. The growth was 0.1 percentage points higher than that of July.

The country's outstanding RMB deposits had increased 12.2% YoY to RMB 88.31 trillion at the end of August. Last month, China saw an increase of RMB 504.4 billion in RMB deposits.







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