Thursday, March 13, 2008

Renminbi Deposits Increase In February

by Elisha Sanders

The People’s Bank of China reported last Wednesday, that individual deposits of Renminbi have raised, and loan growth in the country was stable.

China’s financial institutions have made such impressive deposits that so far they are up to 40.49 trillion yuan ($5.70 trillion) for this year alone. That is an increase of 17.22% from this time last year.

The central bank announced that growth was 2.10% higher for January.

The value of all totaled outstanding Renminbi loans is calculated to have reached 27.22 trillion yuan, which is an increase of 15.73% from February last year. This equals out to a growth of 1.01% lower for January.

The M2 in China - the broad measure of money supply in the country - has raised 17.48% to reach 42.10 trillion yuan. This is 1.46% lower that the number in January.

The M1 - narrow measure of money supply - rose 19.20% to reach 15.02 trillion yuan, which was an increment of 1.52% lower than January.

 

 

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