China’s M2 Money Growth up 10.5% in April, New Renminbi Loans Shrink 823.1B Yuan YoY


China’s broad M2 money supply balance stood at 249.97 trillion yuan as of the end of April, for year-on-year (YoY) growth of 10.5%, as well as acceleration of 0.8 percentage points compared to the end of the previous month, and 2.4 percentage points compared to the same period last year.

The M1 balance was 63.61 trillion yuan, for YoY growth of 5.1%, and an acceleration of 0.4 percentage points compared to the end of the previous month, as well as a deceleration of 1.1 percentage points compared to the same period last year.

The M0 balance was 9.56 trillion yuan, for YoY growth of 11.4%, with net cash injections of 48.5 billion yuan in April.

As of the end of April the domestic and foreign currency loan balance was 207.75 trillion yuan, for YoY growth of 10.6%, while the renminbi loan balance was 201.66 trillion yuan, for YoY growth of 10.9%, and a deceleration of 0.5 percentage points compared to the end of the previous month, as well as 1.4 percentage points compared to the same period last year.

Renminbi loans increased by 645.5 billion yuan in April, 823.1 billion yuan less than the reading for the same period last year.

Household loans contracted 217.0 billion yuan – 745.3 billion yuan less than the change in household loans for April last year. This included a contraction of 60.5 billion yuan in home loans, 402.2 billion yuan less than the reading for April last year.

Institutional loans increased 578.4 billion yuan, 176.8 billion yuan less than the reading for April last year. Short-term loans contracted 194.8 billion yuan, while medium-and-long term loans increased 265.2 billion yuan, and notes financing increased 514.8 billion yuan.



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