The Bank Released its Financial Statistics Report for August 2011. 1. Broad money growth was 13.5%, and narrow money growth was 11.2%.
At the end of August, the balance of broad money (M2) was 78.07 trillion yuan, an increase of 13.5% year-on-year, 1.2 and 5.7 percentage points lower than the end of last month and the same period of the previous year, respectively; the narrow money (M1) balance was 27.33 trillion yuan, an increase of 11.2% year-on-year. They were 0.4 and 10.7 percentage points lower than the end of last month and the same period of last year respectively; the balance of currency (M0) in circulation was 4.58 trillion yuan, an increase of 14.7% year-on-year. In the month, net cash deposits amounted to 59.2 billion yuan, a year-on-year increase of 21.3 billion yuan.
2. RMB loans increased by RMB 548.5 billion during the month, and foreign currency loans increased by US$5.9 billion. At the end of August, the balance of domestic and foreign currency loans was 55.69 trillion yuan, a year-on-year increase of 16.5%. The balance of RMB loans was 52.44 trillion yuan, a year-on-year increase of 16.4%, 0.2 and 2.2 percentage points lower than the end of last month and the same period of the previous year. The monthly RMB loans increased by 548.5 billion yuan, an increase of 9.3 billion yuan year-on-year. In terms of sub-sectors, household loans increased by 188.8 billion yuan, of which short-term loans increased by 87.8 billion yuan, medium- and long-term loans increased by 101 billion yuan, loans to non-financial companies and other sectors increased by 360.2 billion yuan, of which short-term loans increased by 158.8 billion yuan. Long-term loans increased by 101.1 billion yuan, and bill financing increased by 91.7 billion yuan. The balance of foreign currency loans was US$50.8 billion, an increase of 24.6% year-on-year, and foreign currency loans increased by US$5.9 billion in the same month.
3. In the same month, RMB deposits increased by 699.2 billion yuan and foreign currency deposits increased by US$8.4 billion. At the end of August, the balance of domestic and foreign currency deposits reached 80.31 trillion yuan, a year-on-year increase of 15.3%. The balance of RMB deposits was 78.67 trillion yuan, a year-on-year increase of 15.5%, which was 0.8 and 4.1 percentage points lower than the end of last month and the same period of the previous year. RMB deposits increased by 699.6 billion yuan during the month, a decrease of 373.6 billion yuan year-on-year. Among them, household deposits increased by 26.5 billion yuan, non-financial corporate deposits increased by 371 billion yuan, and fiscal deposits increased by 101.5 billion yuan. The balance of foreign currency deposits was US$256.1 billion, an increase of 14.5% year-on-year, and foreign currency deposits increased by US$8.4 billion in the same month.
IV. Interest rates in the inter-bank market retreated significantly In August, the cumulative turnover of RMB transactions in the inter-bank market was 18.76 trillion yuan, with an average daily transaction of 818.5 billion yuan, and the daily average transaction volume decreased by 14.3% year-on-year.
In August, the weighted average interest rate for inter-bank borrowing in the inter-bank market was 3.30%, 1.14 percentage points lower than the previous month; the weighted average interest rate for pledged bond repurchase was 3.38%, 1.23 percentage points lower than the previous month.
At the end of August, the balance of broad money (M2) was 78.07 trillion yuan, an increase of 13.5% year-on-year, 1.2 and 5.7 percentage points lower than the end of last month and the same period of the previous year, respectively; the narrow money (M1) balance was 27.33 trillion yuan, an increase of 11.2% year-on-year. They were 0.4 and 10.7 percentage points lower than the end of last month and the same period of last year respectively; the balance of currency (M0) in circulation was 4.58 trillion yuan, an increase of 14.7% year-on-year. In the month, net cash deposits amounted to 59.2 billion yuan, a year-on-year increase of 21.3 billion yuan.
2. RMB loans increased by RMB 548.5 billion during the month, and foreign currency loans increased by US$5.9 billion. At the end of August, the balance of domestic and foreign currency loans was 55.69 trillion yuan, a year-on-year increase of 16.5%. The balance of RMB loans was 52.44 trillion yuan, a year-on-year increase of 16.4%, 0.2 and 2.2 percentage points lower than the end of last month and the same period of the previous year. The monthly RMB loans increased by 548.5 billion yuan, an increase of 9.3 billion yuan year-on-year. In terms of sub-sectors, household loans increased by 188.8 billion yuan, of which short-term loans increased by 87.8 billion yuan, medium- and long-term loans increased by 101 billion yuan, loans to non-financial companies and other sectors increased by 360.2 billion yuan, of which short-term loans increased by 158.8 billion yuan. Long-term loans increased by 101.1 billion yuan, and bill financing increased by 91.7 billion yuan. The balance of foreign currency loans was US$50.8 billion, an increase of 24.6% year-on-year, and foreign currency loans increased by US$5.9 billion in the same month.
3. In the same month, RMB deposits increased by 699.2 billion yuan and foreign currency deposits increased by US$8.4 billion. At the end of August, the balance of domestic and foreign currency deposits reached 80.31 trillion yuan, a year-on-year increase of 15.3%. The balance of RMB deposits was 78.67 trillion yuan, a year-on-year increase of 15.5%, which was 0.8 and 4.1 percentage points lower than the end of last month and the same period of the previous year. RMB deposits increased by 699.6 billion yuan during the month, a decrease of 373.6 billion yuan year-on-year. Among them, household deposits increased by 26.5 billion yuan, non-financial corporate deposits increased by 371 billion yuan, and fiscal deposits increased by 101.5 billion yuan. The balance of foreign currency deposits was US$256.1 billion, an increase of 14.5% year-on-year, and foreign currency deposits increased by US$8.4 billion in the same month.
IV. Interest rates in the inter-bank market retreated significantly In August, the cumulative turnover of RMB transactions in the inter-bank market was 18.76 trillion yuan, with an average daily transaction of 818.5 billion yuan, and the daily average transaction volume decreased by 14.3% year-on-year.
In August, the weighted average interest rate for inter-bank borrowing in the inter-bank market was 3.30%, 1.14 percentage points lower than the previous month; the weighted average interest rate for pledged bond repurchase was 3.38%, 1.23 percentage points lower than the previous month.
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