Chinese Central Bank Releases Financial Data for End of 2020 – Renminbi Loans Increased 19.63 Trillion Yuan Last Year

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The People’s Bank of China (PBOC) has just released its the latest batch of financial data for the end of 2020.

According to the report as of the end of December 2020 the broad M2 money supply balance stood at 218.68 trillion yuan, for a YoY rise of 10.1%, and a deceleration of 0.6 percentage points compared to the end of the previous month, as well as an acceleration of 1.4 percentage points compared to the same period last year.

The narrow M1 money supply balance stood at 62.56 trillion yuan, for a YoY rise of 8.6%, a deceleration of 1.4 percentage points compared to the end of the previous month, and an acceleration of 4.2 percentage points compared to the same period last year.

As of the end of December the domestic and foreign currency loan balance stood at 178.4 trillion yuan, for a YoY rise of 12.5%.

The renminbi loan balance was 172.75 trillion yuan, for a YoY rise of 12.8%, which marked an acceleration of 0.5 percentage points compared to the same period last year.

Renminbi lending increased by 19.63 trillion yuan in 2020, or 2.82 trillion yuan ahead of the increase in 2019.

Household loans increased by 7.87 trillion yuan, including 1.92 trillion yuan in short-term loans and 5.95 trillion yuan in medium and long-term loans. Enterprise (entity) loans increased 12.17 trillion yuan, including 2.39 trillion yuan in short-term loans and 8.8 trillion yuan in medium and long-term loans.

Notes financing increased 738.9 billion yuan, and non-bank financial institution lending fell by 470.6 billion yuan.

The foreign currency loan balance stood at USD$867.2 billion at the end of December, for a YoY rise of 10.2%. Foreign currency loans increased by $80.2 billion in 2020, $88.1 billion ahead of the figure for the previous year.

The domestic and foreign currency deposit balance was 218.37 trillion yuan as of the end of December, for a YoY rise of 10.2%. The renminbi deposit balance was 212.57 trillion yuan, for a YoY rise of 10.2%, and an acceleration of 1.5 percentage points compared to the same period last year.

Renminbi deposits increased by 19.65 trillion yuan in 2020, 4.28 trillion yuan ahead of the figure for the previous year. Household deposits increased by 11.3 trillion yuan, while non-financial enterprise deposits increased 6.57 trillion yuan, fiscal deposits 393.1 billion yuan, and non-banks financial institution deposits 1.06 trillion yuan.

The foreign currency deposit balance as of the end of December was $889.3 billion, for a YoY rise of 17.4%.

In December the monthly weighed average interest rate for renminbi market interbank lending was 1.3%, for decline of 0.68 percentage points compared to the end of the previous month, and 0.79 percentage points compared to the same period last year.

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