Banking News
- Central bank: Growth rate of resident's deposits eases
Date: 14-May-2007 Sources: (Xinhua Online)
China's increment of Renminbi deposits hit 444 billion yuan at the end of April, down by 13.3 billion yuan year on year, a report released by the People's Bank of China (PBOC) said here on Sunday.
Resident's Renminbi deposits declined by 167.4 billion yuan in April, down by 228 billion yuan year on year, according to the PBOC's financial executive report.
Meanwhile, loans in Renminbi grew by 422 billion yuan, an increase of 105.8 billion yuan year on year.
Among the total, resident's Renminbi loans grew by 123.6 billion yuan, up 63 billion yuan year on year.
The broad money supply (M2) hit 36.7 trillion yuan at the end of April, an increase of 17.1 percent year on year, and 0.1 percentage point lower than that at the end of March.
The narrow money supply (M1) reached 12.8 trillion yuan during the same period, up 20 percent year on year, and 0.2 percentage points higher than that at the end of March. (one U.S. dollar equals to 7.7 yuan)
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