OREANDA-NEWS. June 25, 2014. 1. Broad money and narrow money rose by 13.4 percent and 5.7 percent respectively

At end-May, broad money (M2) stood at 118.23 trillion yuan, increasing by 13.4 percent year-on-year,up 0.2 percentage points from a month earlier but down 2.4 percentage points from the same period last year. Narrow money (M1) registered 32.78 trillion yuan, rising by 5.7 percent year-on-year, up 0.2 percentage points from a month earlier but down 5.6 percentage points from the same period last year. Currency in circulation (M0) posted 5.81 trillion yuan, increasing by 6.7 percent year-on-year. The month saw a net money withdrawal of 56.4 billion yuan.

2. RMB loans increased by 870.8 billion yuan while lending in foreign currencies fell by USD2.6 billion

At end-May, outstanding RMB and foreign currency loans registered 81.78 trillion yuan, up 13.6 percent year-on-year. Outstanding RMB loans grew by 13.9 percent year-on-year to 76.55 trillion yuan, up 0.2 percentage points from a month earlier but down 0.6 percentage points from the same period last year. RMB loans registered an increase of 870.8 billion yuan in May, 201.4 billion yuan more than the growth in the same period last year. By sector, household loans rose by 312.5 billion yuan, with short-term loans and medium and long-term (MLT) loans increasing by 110.4 billion and 202.1 billion yuan respectively; loans to non-financial enterprises and other sectors rose by 558.6 billion yuan, with short-term loans, MLT loans and bill financing increasing by 35.6 billion, 347.9 billion and 154.5 billion yuan respectively. At end-May, outstanding foreign currency loans registered USD 846.8 billion, up 9.5 percent year-on-year. In May, foreign currency loans dropped by USD 2.6 billion.

3. RMB deposits and foreign currency deposits grew by 1.37 trillion yuan and US\\$36.6 billion respectively

At end-May, the outstanding amount of RMB and foreign currency deposits posted 113.31 trillion yuan, up 11.1 percent year-on-year. RMB deposits recorded an outstanding amount of 109.82 trillion yuan, rising by 10.6 percent year-on-year, down 0.3 percentage points from a month earlier and 5.6 percentage points from the same period last year. RMB deposits increased by 1.37 trillion yuan in May, 110.8 billion yuan less than the growth recorded for the same period last year. Specifically, household deposits, deposits of non-financial enterprises and fiscal deposits rose by 169 billion, 547.9 billion and 302.7 billion yuan respectively. At end-May, the outstanding amount of foreign currency deposits was USD 565.8 billion, up 28.3 percent year-on-year. Foreign currency deposits increased by USD 36.6 billion in May.

4. The monthly weighted average interbank lending rate and the monthly weighted average interest rate on bond pledged repo both stood at 2.56 percent

In May, lending, spot trading and bond repo transactions in the interbank RMB market totaled 26.17 trillion yuan. The average daily turnover posted 1.25 trillion yuan, up 25.5 percent year-on-year.

The monthly weighted average interbank lending rate for May stood at 2.56 percent, down 0.16 percentage points from the previous month and 0.36 percentage points from the same period a year earlier. The monthly weighted average interest rate on bond pledged repo registered 2.56 percent, down 0.13 percentage points from the previous month and 0.45 percentage points from the same period a year earlier.

5. RMB cross-border trade settlement and RMB settlement of direct investment reached 515.3 billion and 78.8 billion yuan respectively

In May, RMB settlement of cross-border trade in goods, cross-border trade in services and other current accounts, outward FDI and inward FDI amounted to 327.1 billion, 188.2 billion, 16.4 billion and 62.4 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.