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China's Financial Industry Operates Smoothly
Statistics from the People's Bank of China show that in the first three quarters of this year, China's financial industry maintained its healthy development momentum, with money supply growing steadily.
According to the statistics, by the end of September the outstanding amount of broad money (M2) was 13.0474 trillion yuan (US$1.572 trillion), up 13.4 percent from the same period last year; while that of narrow money (M1) was 5.0617 trillion yuan (US$609.84 billion), up 20.8 percent.
The outstanding amount of money in circulation (M0) was 1.3895 trillion yuan (US$167.41 billion), up 13.4 percent from the same period last year. In the first nine months, the amount of net cash input was 43.9 billion yuan (US$5.29 billion), or 61.2 billion yuan (US$7.37 billion) less than the same period last year.
Affected by the constantly improving enterprise conditions, the overall amount of loans by financial institutions continued to increase. By the end of September, the outstanding amount of loans reached 9.5996 trillion yuan (US$1.156 trillion), up 14.1 percent in constant terms.
By the end of September, the outstanding amount of deposits in financial institutions was 12.0048 trillion yuan (US$1.446 trillion), up 13.8 percent from the same period last year. Of which corporate deposits account for 4.2685 trillion yuan (US$514.28 billion), up 22.4 percent; while residents ' deposits account for 6.3243 trillion yuan (US$761.96 billion), up 6.5 percent.
The exchange rate of Renminbi at the end of September was US$1 for 8.2790 RMB yuan.
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