Financial statistics released recently by the People's Bank of China, the nation's central bank, show that China's money and credit supply is basically suited to the demand of economic growth.

According to the statistics, at the end of October the outstanding amount of broad money (M2) was over 11.5 trillion yuan, up 14.5 percent from the same period last year, while narrow money (M1) was up to 4.2 trillion yuan, up 15.1 percent, or 3.3 percentage points higher than at the end of last year.

A spokesman for the central bank said the accelerated growth of M1 indicates enterprises' and residents' growing desire to hold current deposits, which is beneficial for short-term economic growth and for expanding domestic demand.

At the end of October, the outstanding amount of loans by all financial institutions stood at 9.38 trillion yuan, up 12.5 percent; while deposits reached 10.59 trillion yuan, up 13.8 percent, according to the release.