English Version
 
 
Sep,04,2010
 
 
HomeNews
 


Financial Performance Generally Stable

 

Since the beginning of the year, in accordance with the overall arrangements of the CPC Central Committee and the State Council, the PBC has tuned flexibly and prudently the emphasis, pace and intensity of financial adjustment with comprehensive approaches, in an effort to maintain equilibrium at the aggregate level and create a favourable monetary environment for the stable and relatively fast development of the economy. In general, current financial performance is stable.

 

1. Money supply grew 15.29%

At end-September 2008, broad money (M2) stood at RMB 45.29 trillion, increasing 15.29% year on year, down 0.71 percentage points from the end of last month. Narrow money (M1) registered RMB 15.57 trillion, rising 9.43% year on year, down 2.05 percentage points from the end of last month. Cash in circulation (M0) grew 9.28% year on year to RMB 3.17 trillion. Net cash injection from January to September totaled RMB 135 billion, down RMB 60.8 billion year on year.

 

2. RMB deposits of financial institutions witnessed large increase

At end-September 2008, outstanding RMB and foreign currency deposits of financial institutions totaled RMB 46.68 trillion with a year-on-year growth of 18.20%. Outstanding RMB deposits increased 18.79% year on year to RMB 45.49 trillion, down 0.49 percentage points month on month. In the January-September period, RMB deposits registered an increase of RMB 6.56 trillion, up RMB 1.81 trillion year on year. By sector, household deposits grew by RMB 3.25 trillion, accelerating by RMB 2.49 trillion year on year; deposits of non-financial companies grew by RMB 2.18 trillion, RMB 695.1 billion less than the growth in the same period last year; fiscal deposits rose by RMB 1 trillion, representing a year-on-year drop of RMB 41.5 billion. RMB deposits recorded a RMB 476.9 billion increase in the month, with a year-on-year deceleration of RMB 79.6 billion.

 

At end-September, outstanding foreign currency deposits of financial institutions rose 9.37% year on year to USD 174.2 billion. From January to September, foreign currency deposits saw a USD 13.4 billion increase, accelerating by USD 15.5 billion year on year.  Foreign currency deposits declined by USD 175 million in the month, USD 3.3 billion les