PBoC releases money supply figures for March
(22 April 2015 – China) The People’s Bank of China (PBoC) released its money supply figures for March, showing an increase of 11.6 percent in the broad money supply (M2) to RMB127.53 trillion (A$26.73 trillion) year-on-year.
The narrow money supply (M1) at RMB33.72 trillion, rose by 2.9 percent, down an average 0.9 percentage points from February.
The amount of money in circulation was RMB6.2 trillion increasing by 6.2 percent year-on-year.
In its release, the PBoC also said the first quarter of 2015 saw a net money injection of RMB169 billion.
Meanwhile at end-March, outstanding RMB and foreign currency loans totalled RMB91.52 trillion, up 13.3 percent while outstanding RMB loans grew by 14 percent to 85.91 trillion.
RMB loans increased by RMB3.68 trillion in the first quarter – RMB601.8 billion more than the same period last year.
At end-March, outstanding foreign currency loans stood at US$914.6 billion (A$1188 billion), up 4.0 percent year-on-year. In the first quarter, foreign currency loans rose by US$34.1 billion.
RMB deposits increased by RMB4.15 trillion at the end of March and foreign currency deposits increased by US$83.5 billion.
In the first quarter, 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 RMB1.496 trillion, RMB158.6 billion, RMB53.4 billion and RMB234.5 billion, respectively.