Home / Metal News / Copper / China's New RMB Loans Rise to RMB 379.8 bln in December
China's New RMB Loans Rise to RMB 379.8 bln in December
Jan 18,2010 13:15CST
data analysis

BEIJING, Jan. 18 -- The People's Bank of China said Friday that the country's new RMB-denominated loans increased to RMB 379.8 billion in December from RMB 294.8 billion in November.

Last year, Chinese banks extended a total of RMB 9.59 trillion in new loans, RMB 4.69 trillion more than in 2008, said the PBOC in a statement published on its website.

At the end of December, the country's outstanding RMB loans were RMB 39.97 trillion, up 31.74% from a year ago.

The nation's outstanding RMB deposits had grown 28.21% year on year to RMB 59.77 trillion at the end of last year.

The PBOC also said China's M2, a broad measure of its money supply, was RMB 60.62 trillion at the end of December, up 27.68% compared with a year ago.

M1, which includes deposits in withdrawal-on-demand accounts and cash in circulation, rose 32.35% year on year to RMB 22 trillion in December. The growth was 2.28 percentage points less than in November.




China central bank
China economy macroeconomy

For queries, please contact Frank LIU at liuxiaolei@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

Related news