OREANDA-NEWS. April 28, 2014. 1. Broad money and narrow money rose by 12.1 percent and 5.4 percent respectively

At end-March, broad money (M2) stood at 116.07 trillion yuan, increasing by 12.1 percent year-on-year, down 1.2 percentage points from a month earlier and 1.5 percentage points from end-2013. Narrow money (M1) registered 32.77 trillion yuan, rising by 5.4 percent year-on-year, down 1.5 percentage points from a month earlier and 3.9 percentage points from end-2013. Currency in circulation (M0) posted 5.83 trillion yuan, increasing by 5.2 percent year-on-year. The first quarter of the year saw a net money withdrawal of 24.2 billion yuan.

2. RMB loans and foreign currency loans increased by 3.01 trillion yuan and USD69.5 billion respectively in Q1

At end-March, outstanding RMB and foreign currency loans registered 80.12 trillion yuan, up 13.7 percent year-on-year. Outstanding RMB loans grew by 13.9 percent year-on-year to 74.91 trillion yuan, decelerating by 0.3 percentage points from a month earlier and by 0.2 percentage points from end-2013. RMB loans registered an increase of 3.01 trillion yuan in Q1, up 259.2 billion yuan year-on-year. By sector, household loans rose by 929.3 billion yuan, with short-term loans and medium and long-term (MLT) loans increasing by 300.6 billion and 628.7 billion yuan respectively; loans to non-financial enterprises and other sectors rose by 2.08 trillion yuan, with short-term loans and MLT loans increasing by 933.4 billion and 1.12 trillion yuan respectively and bill financing decreasing by 75.6 billion yuan. In March, RMB loans rose by 1.05 trillion yuan, 12.4 billion yuan less than the growth in the same period last year. At end-March, outstanding foreign currency loans registered USD 846.4 billion, up 12.2 percent year-on-year. In Q1, foreign currency loans climbed by USD 69.5 billion.

3. RMB deposits and foreign currency deposits grew by 4.72 trillion yuan and US\\$42.3 billion respectively in Q1

At end-March, the outstanding amount of RMB and foreign currency deposits posted 112.22 trillion yuan, up 11.5 percent year-on-year. RMB deposits recorded an outstanding amount of 109.10 trillion yuan, rising by 11.4 percent year-on-year, down 1.1 percentage points from a month earlier and 2.4 percentage points from end-2013. RMB deposits expanded by 4.72 trillion yuan in Q1, 1.39 trillion yuan less than that recorded for the same period last year. Specifically, household deposits, deposits of non-financial enterprises and fiscal deposits rose by 3.29 trillion, 319.9 billion and 93 billion yuan respectively. In March,RMB deposits increased by 3.67 trillion yuan, down 557.6 billion yuan year-on-year. At end-March, the outstanding amount of foreign currency deposits was USD 507.4 billion, up 14.9 percent year-on-year. Foreign currency deposits increased by USD 42.3 billion in Q1.

4. The monthly weighted average interbank lending rate stood at 2.49 percent and the monthly weighted average interest rate on bond pledged repo posted 2.48 percent

In Q1, lending, spot trading and bond repo transactions in the interbank RMB market totaled 53.07 trillion yuan. The average daily turnover posted 884.5 billion yuan, down 24.0 percent year-on-year.

The monthly weighted average interbank lending rate for March stood at 2.49 percent, down 0.52 percentage points from the previous month. The monthly weighted average interest rate on bond pledged repo registered 2.48 percent, down 0.51 percentage points from the previous month.

5. Official foreign exchange reserves stood at USD 3.95 trillion

At end-March, China’s foreign exchange reserves stood at USD 3.95 trillion and the RMB exchange rate was 6.1521 yuan per US dollar.

6. RMB cross-border trade settlement and RMB settlement of direct investment reached 1.65 trillion and 193.1 billion yuan respectively in Q1

In Q1, RMB settlement in cross-border trade in goods, cross-border trade in services and other current accounts, outward FDI and inward FDI amounted to 1.09 trillion, 561.3 billion, 27.8 billion and 165.3 billion yuan respectively.

Notes:
1. Data for the current period are preliminary figures.
2. As of October 2011, monetary aggregates have included deposits of housing provident fund centers and non-depository financial institutions’ deposits with depository financial institutions.