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China's M2 up 14.1% in Oct

Nov. 13, 2012 (China Knowledge) - China's M2, a broad measure of money supply, was RMB 93.64 trillion at the end of October this year, up 14.1% compared with a year ago, and the growth was 0.7 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 6.1% YoY to RMB 29.33 trillion at the end of last month. The growth rate was 1.2 percentage points lower than that at the end of September.
M0, or cash in circulation, had increased 10.5% from a year earlier to RMB 5.15 trillion at the end of October.
The central bank also said that the country's new RMB-denominated loans were RMB 505.2 billion in October, RMB 81.6 billion less than in the same month of last year.

At the end of last month, China's had RMB 62.01 trillion in the balance of RMB-denominated loans, reflecting a YoY increase of 15.9%. The growth was 0.4 percentage points lower than that of September.

The country's outstanding RMB deposits had increased 13.3% YoY to RMB 89.68 trillion at the end of October. Last month, China saw a decrease of RMB 279.9 billion in RMB deposits.

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