OREANDA-NEWS. July 28, 2014. 1. Broad money and narrow money rose by 14.7 percent and 8.9 percent respectively
At end-June, broad money (M2) stood at 120.96 trillion yuan, increasing by 14.7 percent year-on-year,up 1.3 percentage points from a month earlier and 1.1 percentage points from the end of last year. Narrow money (M1) registered 34.15 trillion yuan, rising by 8.9 percent year-on-year, up 3.2 percentage points from a month earlier but down 0.4 percentage points from the end of last year. Currency in circulation (M0) posted 5.70 trillion yuan, increasing by 5.3 percent year-on-year. The first half of the year saw a net money withdrawal of 162 billion yuan.

2. RMB loans and foreign currency loans increased by 5.74 trillion yuan and US\\$75.7 billion respectively in H1

At end-June, outstanding RMB and foreign currency loans registered 82.88 trillion yuan, up 13.7 percent year-on-year. Outstanding RMB loans stood at 77.63 trillion yuan, rising by 14.0 percent year-on-year, up 0.1 percentage points from a month earlier but down 0.1 percentage points from the end of last year. RMB loans registered an increase of 5.74 trillion yuan in H1, 659 billion yuan more than the growth in the same period last year.

By sector, household loans rose by 1.88 trillion yuan, with short-term loans and medium and long-term (MLT) loans increasing by 660.1 billion and 1.22 trillion yuan respectively; loans to non-financial enterprises and other sectors rose by 3.86 trillion yuan, with short-term loans, MLT loans and bill financing increasing by 1.38 trillion, 2.06 trillion and 243.2 billion yuan respectively. In June, RMB loans rose by 1.08 trillion yuan, 216.5 billion yuan more than the growth in the same period last year. At end-June, outstanding foreign currency loans registered USD852.6 billion, up 9.9 percent year-on-year. In H1, lending in foreign currencies expanded by USD 75.7 billion.

3. RMB deposits and foreign currency deposits grew by 9.23 trillion yuan and USD 128.6 billion respectively in H1

At end-June, the outstanding amount of RMB and foreign currency deposits posted 117.26 trillion yuan, up 13.1 percent year-on-year. RMB deposits recorded an outstanding amount of 113.61 trillion yuan, rising by 12.6 percent year-on-year, up 2.0 percentage points from a month earlier but down 1.2 percentage points from the end of last year. RMB deposits increased by 9.23 trillion yuan in H1, 135.4 billion yuan more than the growth recorded for the same period last year. Specifically, household deposits, deposits of non-financial enterprises and fiscal deposits rose by 4.05 trillion, 2.51 trillion and 654.1 billion yuan respectively. In June,RMB deposits increased by 3.79 trillion yuan, up 2.19 trillion yuan year-on-year. At end-June, the outstanding amount of foreign currency deposits was US\\$593.6 billion, up 34.5 percent year-on-year. Foreign currency deposits increased by US\\$128.6 billion in H1.

4. The monthly weighted average interbank lending rate stood at 2.85 percent and the monthly weighted average interest rate on bond pledged repo posted 2.89 percent

In H1, lending, spot trading and bond repo transactions in the interbank RMB market totaled 129.65 trillion yuan. The average daily turnover posted 1.06 trillion yuan, down 2.1 percent year-on-year.

The monthly weighted average interbank lending rate for June stood at 2.85 percent, up 0.29 percentage points from the previous month. The monthly weighted average interest rate on bond pledged repo registered 2.89 percent, up 0.33 percentage points from the previous month.

5. Official foreign exchange reserves stood at USD 3.99 trillion

At end-June, China’s foreign exchange reserves stood at USD 3.99 trillion and the RMB exchange rate was 6.1528 yuan per US dollar.

6. RMB cross-border trade settlement and RMB settlement of direct investment reached 3.27 trillion and 469.9 billion yuan respectively in H1

In H1, RMB settlement of cross-border trade in goods, cross-border trade in services and other current accounts, outward FDI and inward FDI amounted to 2.09 trillion, 1.18 trillion, 86.5 billion and 383.4 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.