BUSINESS M2 up 8.5 percent in April, RMB loans up 1.02 trillion: PBOC

BUSINESS

M2 up 8.5 percent in April, RMB loans up 1.02 trillion: PBOC

By Chi Jingyi | People's Daily app

14:22, May 09, 2019

Broad and narrow money grew by 8.5 percent and 2.9 percent, respectively, in April, according to the financial statistics report of China’s central Bank, People's Bank of China (PBOC).

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Broad money is an inclusive method of calculating a country's money supply, and narrow money refers to the most liquid assets, cash, and check deposits.

RMB loans increased by 1.02 trillion yuan and RMB deposits increased by 260.6 billion yuan. RMB settlements of cross-border trade reached 484.09 billion yuan.

The weighted average monthly interest rate of interbank lending in the RMB market was 2.43 percent.

Social financing increased by 1.36 trillion yuan in April, which was estimated at 1.65 trillion yuan.

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