OREANDA-NEWS. November 28, 2014. 1. Broad money and narrow money rose by 12.6 percent and 3.2 percent respectively

At end-October, broad money (M2) stood at 119.92 trillion yuan, increasing by 12.6 percent year-on-year,down 0.3 percentage points from a month earlier and 1.7 percentage points from the same period last year. Narrow money (M1) registered 32.96 trillion yuan, rising by 3.2 percent year-on-year, down 1.6 percentage points from a month earlier and 5.7 percentage points from the same period last year. Currency in circulation (M0) posted 5.77 trillion yuan, increasing by 3.8 percent year-on-year. The month saw a net money withdrawal of 115.3 billion yuan.

2. RMB loans increased by 548.3 billion yuan while lending in foreign currencies decreased by US\\$11.7 billion

At end-October, outstanding RMB and foreign currency loans registered 85.21 trillion yuan, up 12.9 percent year-on-year. Outstanding RMB loans grew by 13.2 percent year-on-year to 80.13 trillion yuan, a pace unchanged from a month earlier but 1.0 percentage point slower than in the same period last year. RMB loans registered an increase of 548.3 billion yuan in October, expanding by 42.3 billion yuan year-on-year. By sector, household loans rose by 158.5 billion yuan, with short-term loans and medium and long-term (MLT) loans increasing by 39 billion and 119.5 billion yuan respectively; loans to non-financial enterprises and other sectors rose by 389 billion yuan, with short-term loans, MLT loans and bill financing increasing by 17.9 billion, 223.2 billion and 117.1 billion yuan respectively. In January-October, RMB loans grew by 8.23 trillion yuan. At end-October, outstanding foreign currency loans registered USD826.7 billion, up 7.8 percent year-on-year. In October, foreign currency loans dropped by USD 11.7 billion.

3. RMB deposits and foreign currency deposits fell by 186.6 billion yuan and USD 9.1 billion respectively

At end-October, the outstanding amount of RMB and foreign currency deposits posted 116.13 trillion yuan, up 10.2 percent year-on-year. RMB deposits recorded an outstanding amount of 112.47 trillion yuan, rising by 9.5 percent year-on-year, up 0.2 percentage points from a month earlier but down 5.0 percentage points from the same period last year. RMB deposits fell by 186.6 billion yuan in October, 216.1 billion yuan less than the slide in the same period last year. Specifically, household deposits and deposits of non-financial enterprises dropped by 539.5 billion and 448.2 billion yuan respectively while fiscal deposits rose by 683.7 billion yuan. In January-October, RMB deposits increased by 8.09 trillion yuan. At end-October, the outstanding amount of foreign currency deposits was USD 596.2 billion, up 33.7 percent year-on-year. Foreign currency deposits fell by USD 9.1 billion in October.

4. The monthly weighted average interbank lending rate stood at 2.69 percent and the monthly weighted average interest rate on bond pledged repo posted 2.64 percent

In October, lending, spot trading and bond repo transactions in the interbank RMB market totaled 29.18 trillion yuan. The average daily turnover posted 1.54 trillion yuan, up 91.4 percent year-on-year.

In October, the monthly weighted average interbank lending rate stood at 2.69 percent, down 0.28 percentage points from the previous month. The monthly weighted average interest rate on bond pledged repo registered 2.64 percent, down 0.29 percentage points from the previous month.

5. RMB cross-border trade settlement and RMB settlement of direct investment reached 559.8 billion and 72.1 billion yuan respectively

In October, 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 511.2 billion, 48.6 billion, 10.8 billion and 61.3 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. 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.
4. The year-on-year M2 growth rate for this month is calculated on a comparable basis.