The latest official data points to a slight on-month uptick in growth in the M2 money supply for the month of October.
As of the end of October the M2 money supply balance in China was 233.62 trillion yuan, for a year-on-yea rise of 8.7%, according to data released by the People’s Bank of China (PBOC) on 10 November.
The growth rate marked an acceleration of 0.4 percentage points compared to the previous month, and a deceleration of 1.8 percentage points compared to the same period last year.
The M1 money supply balance was 62.61 trillion yuan, for YoY growth of 2.8%, for a deceleration of 0.9 percentage points compared to the previous month, and 6.3 percentage points compared to the same period last year.
The month of October saw a net cash withdrawal of 78.1 billion yuan.
As of the end of October the domestic and foreign currency loan balance was 196.38 trillion yuan, for a YoY 11.4%. The renminbi loan balance was 190.29 trillion yuan for a YoY rise of 11.9%, on par with the figure for the end of September and 1 percentage point lower than the same period last year.
Renminbi loans increased 826.2 billion yuan in October, 136.4 billion yuan more than the figure for the same period last year.
