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getUrls?link=78561b2c1ccf4d959ae2f8b7d5eaeed7 - Central Bank:China's M2 in August increased by 10.4%year-on-year, and the increase in social financing in August was 3.58 trillion yuan

The Central Bank released the”Report on Financial Statistics for August 2020″ on September 11.

1. Broad money grew by 10.4%, narrow money grew by 8%

At the end of August, the balance of broad money (M2) was 213.68 trillion yuan, a year-on-year increase 10.4%, the growth rate was 0.3 percentage points lower than the end of the previous month and 2.2 percentage points higher than the same period last year; the balance of narrow money (M1) was 60.13 trillion yuan, an increase of 8%year-on-year, and the growth rate was 1.1 higher than the end of last month and the same period last year. And 4.6 percentage points; the balance of currency in circulation (M0) is 8 trillion yuan, a year-on-year increase of 9.4%. Net cash invested in the month was 17.5 billion yuan.

2. In August, RMB loans increased by 1.28 trillion yuan, and foreign currency loans increased by US$19.3 billion.

At the end of August, the balance of domestic and foreign currency loans was 173.66 trillion yuan , An increase of 12.8%year-on-year. The balance of RMB loans at the end of the month was 167.47 trillion yuan, a year-on-year increase of 13%, and the growth rate was the same as at the end of the previous month, 0.6 percentage points higher than the same period last year.

In August, RMB loans increased by 1.28 trillion yuan, a year-on-year increase of 69.4 billion yuan. In terms of sectors, household loans increased by 841.5 billion yuan, of which short-term loans increased by 284.4 billion yuan, medium and long-term loans increased by 557.1 billion yuan; corporate (institution) loans increased by 579.7 billion yuan, of which short-term loans increased by 4.7 billion yuan. Long-term loans increased by 725.2 billion yuan, bill financing decreased by 167.6 billion yuan; loans from non-banking financial institutions decreased by 147.4 billion yuan.

At the end of August, the balance of foreign currency loans was US$902.8 billion, a year-on-year increase of 12.2%. Foreign currency loans increased by 19.3 billion U.S. dollars that month, an increase of 20.7 billion U.S. dollars over the same period last year.

3. In August, RMB deposits increased by 1.94 trillion yuan, and foreign currency deposits increased by US$25.8 billion.

At the end of August, the balance of domestic and foreign currency deposits was 215.12 trillion yuan , An increase of 10.2%year-on-year. The balance of RMB deposits at the end of the month was 209.49 trillion yuan, a year-on-year increase of 10.3%, and the growth rate was the same as at the end of the previous month, 1.9 percentage points higher than the same period last year.

In August, RMB deposits increased by 1.94 trillion yuan, an increase of 131.7 billion yuan year-on-year. Among them, household deposits increased by 397.3 billion yuan, non-financial corporate deposits increased by 749.1 billion yuan, fiscal deposits increased by 533.9 billion yuan, and deposits by non-banking financial institutions decreased by 261.2 billion yuan.

At the end of August, the balance of foreign currency deposits was US$819.5 billion, a year-on-year increase of 12.1%. Foreign currency deposits increased by US$25.8 billion that month, an increase of US$40.1 billion year-on-year.

In April and August, the monthly weighted average interest rate of inter-bank RMB market inter-bank lending was 2.04%, and the monthly weighted average interest rate of pledged bond repurchase was 2.06%

In August, the inter-bank renminbi market had a total turnover of 117.86 trillion yuan by means of inter-bank lending, spot bonds and repurchase, with an average daily turnover of 5.61 trillion yuan, a year-on-year increase of 20%. Among them, the average daily transaction of interbank lending increased by 4.4%year-on-year, the average daily transaction of spot bonds increased by 18.8%year-on-year, and the average daily transaction of pledged repo increased by 23.2%year-on-year.

The weighted average interest rate of inter-bank lending in August was 2.04%, which was 0.14 percentage points higher than the previous month and 0.61 percentage points lower than the same period last year; the weighted average interest rate of pledged repo was 2.06%, which was higher than the previous month 0.15 percentage points, 0.59 percentage points lower than the same period last year.

Fifth and August, cross-border trade RMB settlement business generated 538.5 billion yuan, and direct investment RMB settlement business generated 293.8 billion yuan.

In August, cross-border trade in goods settled in RMB , Service trade and other current accounts, foreign direct investment, and foreign direct investment accounted for 383.4 billion yuan, 155.1 billion yuan, 66.6 billion yuan, and 227.2 billion yuan respectively.

Preliminary statistics, In August 2020, the increase in social financing will be 3.58 trillion yuan, which is 1.39 trillion yuan more than the same period last year. Among them, RMB loans to the real economy increased by 1.42 trillion yuan, a year-on-year increase of 115.6 billion; foreign currency loans to the real economy increased by RMB 39.7 billion, an increase of 64.4 billion yuan year-on-year; entrusted loans decreased 41.5 billion yuan, a decrease of 9.8 billion yuan year-on-year; trust loans decreased by 31.6 billion yuan, a year-on-year decrease of 34.2 billion yuan; undiscounted bank acceptance bills increased by 144.1 billion yuan, an increase of 128.4 billion yuan year-on-year; net corporate bond financing was 363.3 billion yuan , An increase of 24.9 billion yuan year-on-year; net government bond financing was 1.38 trillion yuan, an increase of 872.9 billion yuan year-on-year; domestic equity financing of non-financial enterprises was 128.2 billion yuan, an increase of 102.6 billion yuan.

Preliminary statistics, At the end of August, the stock of social financing was 276.74 trillion yuan, a year-on-year increase of 13.3%. Among them, the balance of RMB loans issued to the real economy was 166.34 trillion yuan, a year-on-year increase of 13.3%; the balance of foreign currency loans issued to the real economy was RMB 2.4 trillion, a year-on-year increase of 7.5%; the balance of entrusted loans was 11.16 trillion yuan, a year-on-year decrease of 4.9%; trust loan balance was 7.15 trillion yuan, a year-on-year decrease of 7.8%; undiscounted bank acceptance bills balance was 3.75 trillion yuan, a year-on-year increase of 12.7%; corporate bond balance was 27.29 trillion yuan , An increase of 21.1%year-on-year; the balance of government bonds was 43.45 trillion yuan, an increase of 18.7%; the balance of domestic stocks of non-financial enterprises was 7.85 trillion yuan, an increase of 8.8%.

From a structural point of view, the balance of RMB loans issued to the real economy at the end of August accounted for 60.1%of the stock of social financing in the same period, which was the same as the same period last year; the balance of foreign currency loans issued to the real economy accounted for 0.9%%, the same as the same period last year; the balance of entrusted loans accounted for 4.0%, 0.8 percentage points lower than the previous year; the balance of trust loans accounted for 2.6%, 0.6 percentage points lower than the previous year; the balance of undiscounted bank acceptances accounted for 1.4%, lower than the previous The balance of corporate bonds accounted for 9.9%, 0.7 percentage points higher than the same period last year; the balance of government bonds accounted for 15.7%, 0.7 percentage points higher than the same period last year; domestic stock balances of non-financial companies accounted for 2.8%, 0.2 percentage points lower than the same period last year.

(Cover image from:Daily Economic News Photo by Liu Guomei)

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