OREANDA-NEWS. November 05, 2014. 1. Broad money and narrow money rose by 12.9 percent and 4.8 percent respectively

At end-September, broad money (M2) stood at 120.21 trillion yuan, increasing by 12.9 percent year-on-year,up 0.1 percentage points from a month earlier but down 0.7 percentage points from the end of last year. Narrow money (M1) registered 32.72 trillion yuan, rising by 4.8 percent year-on-year, down 0.9 percentage points from a month earlier and 4.5 percentage points from the end of last year. Currency in circulation (M0) posted 5.88 trillion yuan, increasing by 4.2 percent year-on-year. The first three quarters of the year saw a net injection of 27.4 billion yuan.

2. RMB loans and foreign currency loans increased by 7.68 trillion yuan and US\\$61.5 billion respectively in Q1-Q3

At end-September, outstanding RMB and foreign currency loans registered 84.74 trillion yuan, up 13.0 percent year-on-year. Outstanding RMB loans grew by 13.2 percent year-on-year to 79.58 trillion yuan, decelerating by 0.1 percentage points from a month earlier and by 0.9 percentage points from the end of last year. RMB loans registered an increase of 7.68 trillion yuan in the first three quarters, 404.5 billion yuan more than the growth in the same period last year. By sector, household loans rose by 2.66 trillion yuan, with short-term loans and medium and long-term (MLT) loans increasing by 898.9 billion and 1.76 trillion yuan respectively; loans to non-financial enterprises and other sectors rose by 5.02 trillion yuan, with short-term loans, MLT loans and bill financing increasing by 1.24 trillion, 2.79 trillion and 738.3 billion yuan respectively. In September, RMB loans grew by 857.2 billion yuan, up 70.2 billion yuan year-on-year. At end-September, outstanding foreign currency loans registered US\\$838.3 billion, up 9.5 percent year-on-year. In the first three quarters, foreign currency loans increased by US\\$61.5 billion.

3. RMB deposits and foreign currency deposits rose by 8.27 trillion yuan and US\\$140.2 billion respectively in Q1-Q3

At end-September, the outstanding amount of RMB and foreign currency deposits registered 116.38 trillion yuan, up 10.0 percent year-on-year. RMB deposits recorded an outstanding amount of 112.66 trillion yuan, rising by 9.3 percent year-on-year, down 0.8 percentage points from a month earlier and 4.5 percentage points from the end of last year. RMB deposits rose by 8.27 trillion yuan in the first three quarters, 2.99 trillion yuan less than that recorded for the same period last year. Specifically, household deposits, deposits of non-financial enterprises and fiscal deposits increased 3.68 trillion, 1.09 trillion and 1.12 trillion yuan respectively. In September, RMB deposits rose by 924.3 billion yuan, 702.5 billion yuan less than the increase in the same period a year ago. At end-September, the outstanding amount of foreign currency deposits was US\\$605.3 billion, up 34.9 percent year-on-year. Foreign currency deposits rose by US\\$140.2 billion in the first three quarters.

4. The monthly weighted average interbank lending rate for September stood at 2.97 percent and the monthly weighted average interest rate on bond pledged repo posted 2.93 percent

In the first three quarters, lending, spot trading and bond repo transactions in the interbank RMB market totaled 213.22 trillion yuan. The average daily turnover posted 1.13 trillion yuan, up 16.9 percent year-on-year.

The monthly weighted average interbank lending rate for September stood at 2.97 percent, down 0.20 percentage points from the previous month. The monthly weighted average interest rate on bond pledged repo registered 2.93 percent, down 0.18 percentage points from the previous month.

5. Official foreign exchange reserves stood at US\\$3.89 trillion

At end-September, China’s foreign exchange reserves stood at US\\$3.89 trillion and the RMB exchange rate was 6.1525 yuan per US dollar.

6. RMB cross-border trade settlement and RMB settlement of direct investment reached 4.82 trillion and 720.8 billion yuan respectively in Q1-Q3

In the first three quarters of 2014, RMB settlement of cross-border trade in goods, cross-border trade in services and other current account items, outward FDI and inward FDI amounted to 4.32 trillion, 495.6 billion, 133.7 billion and 587.1 billion yuan respectively.

Notes:
1. Data for the current period are preliminary figures.
2. Since October 2011, monetary aggregates have included deposits of housing provident fund centers and non-depository financial institutions’ deposits with depository financial institutions.
3. The year-on-year M2 growth rate for September 2014 is calculated on a comparable basis.
4. Starting from August 2014, re-exports are removed from trade in services statistics to be included in trade in goods, reducing the former and expanding the latter correspondingly.