The latest data from the People’s Bank of China (PBOC) points to a robust rise in renminbi lending and the Chinese money supply in April.
As of the end of April the broad M2 money supply balance was 188.47 trillion yuan for a YoY rise of 8.5%, and a deceleration of 0.1 percentage points compared to the end of March yet an acceleration of 0.2 percentage points compared to the same period in 2018.
The M1 money supply balance was 54.06 trillion yuan, for a YoY rise of 2.9%, and decelerations of 1.7 percentage points compared to March and 4.3 percentage points compared to the same period in 2018.
The M0 balance was 7.4 trillion yuan, for a YoY rise of 3.5%, and a net withdrawal of 97.6 billion yuan in cash that month.
As of the end of April the domestic and foreign currency loan balance was 148.64 trillion yuan, for a YoY rise of 12.9%.
The renminbi loan balance as of the end of April was 143.12 trillion yuan for a YoY rise of 13.5% and a deceleration of 0.2 percentage points compared to the end of March, as well as an acceleration of 0.8 percentage points compared to the same period last year.
Renminbi loans increased by 1.02 trillion yuan in April, 161.5 billion yuan short of the increase during the same period last year.
Household loans increased 525.8 billion yuan, including an increase in short-term loans of 109.3 billion yuan and an increase in medium and long-term loans of 416.5 billion yuan.
Non-financial enterprise and institutional group loans increased by 347.1 billion yuan, with a reduction in short-term loans of 141.7 billion, an increase in medium and long-term lending of 282.3 billion yuan, and an increase in notes financing of 187.4 billion yuan.
Non-bank financial institution loans increased 141.7 billion yuan.
The foreign currency loan balance was USD$820.4 billion as of the end of April, for a YoY decline of 6.2%, with foreign currency loans declining $20.6 billion that month.
The domestic and foreign currency loan balance was 189.25 trillion yuan as of the end of April, for a YoY increase of 8.2%.
As of the end of April the renminbi deposit balance was 184.08 trillion yuan for a YoY rise of 8.5%, and deceleration of 0.2 percentage points compared to the end of March and 0.4 percentage points compared to the same period last year.
Renminbi deposits increased 260.6 billion yuan in April, 274.6 billion yuan less than the increase the same period last year.
As of the end of April the foreign currency deposit balance was $767.2 billion yuan for a YoY decline of 5.8%, while foreign currency deposits fell by $1.7 billion that month.
In April cross-border goods trade, services trade and other current items, outbound foreign direct investment and inbound foreign direct investment settled in renminbi totalled 347.96 billion yuan, 136.13 billion yuan, 81.84 billion yuan and 144.6 billion yuan respectively.
