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China M2 to grow 17 pct this year: PBOC report

English.news.cn   2010-06-18 20:46:45 FeedbackPrintRSS

BEIJING, June 18 (Xinhua) -- China's broad money supply (M2), which covers cash in circulation and all deposits, is expected to grow 17 percent over last year in 2010, the People's Bank of China (PBOC), the central bank, announced Friday.

China's M2 had increased 21 percent year on year to 66.34 trillion yuan (9.73 trillion U.S. dollars) by the end of May, according to PBOC data.

China would maintain its moderately relaxed monetary policy in 2010, according to the PBOC annual report released Friday.

The central bank said in the report it would work to control the pace of credit growth, maintain the balance of credit, and avoid apparent fluctuations.

The central bank also said a differentiated credit policy should be carried out to optimize the nation' s credit structure.

Specifically, more credit support should be made available for agriculture and small and medium-sized companies, which traditionally face difficulties in obtaining financing.

Favorable credit policies should also be implemented to support underdeveloped sectors, employment, strategically important industries such as new energies, new materials, and energy savings, while strict credit controls should be imposed upon energy-consuming and polluting industries and those with overcapacities, according to the report.

Related:

China's May new lending drops to $93.6 bln

BEIJING, June 11 (Xinhua) -- China's new yuan-denominated lending in May fell to 639.4 billion yuan (93.6 billion U.S. dollars) from 774 billion yuan in April, the People's Bank of China (PBOC), the central bank, said in a statement Friday.

China's broad money supply (M2), which covers cash in circulation and all deposits, increased 21 percent year on year to 66.34 trillion yuan by the end of May, according to the PBOC statement on its website. Full story

China April new lending reaches 774 bln yuan

China's new yuan-dominated lending in April expanded to 774 billion yuan (113.35 billion U.S. dollars) from 510.7 billion yuan in March, the People's Bank of China, the central bank, said in a statement Tuesday.

It was also an increase of 182.2 billion yuan from the same period last year, according to the statement published on its website. Full story

Editor: Mo Hong'e
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