Home » RMB loans increased by 9.46 trillion yuan in the first quarter and the total amount grew steadily_Guangming.com

RMB loans increased by 9.46 trillion yuan in the first quarter and the total amount grew steadily_Guangming.com

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Guangming Daily, Beijing, April 12 (Reporter Wen Yuan)

The latest financial statistics report released by the People’s Bank of China on the 12th revealed significant insights into the country’s monetary situation. According to the report, at the end of March, China’s broad money (M2) balance reached 304.8 trillion yuan, marking a year-on-year increase of 8.3%. The balance of narrow currency (M1) stood at 68.58 trillion yuan, with a year-on-year growth of 1.1%. Additionally, the balance of currency (M0) in circulation saw an 11% increase, reaching 11.72 trillion yuan. The net cash injection in the first quarter amounted to 376.6 billion yuan.

The data also indicated a noticeable rise in RMB loans during the first quarter, increasing by 9.46 trillion yuan. Household loans saw an increase of 1.33 trillion yuan, with short-term loans rising by 356.8 billion yuan and medium and long-term loans increasing by 975 billion yuan. Loans to enterprises and institutions surged by 7.77 trillion yuan, with short-term loans up by 2.97 trillion yuan and medium to long-term loans increased by 6.2 trillion yuan. Non-banking financial institutions also saw an increase in loans by 233.6 billion yuan.

Moreover, RMB deposits witnessed a substantial increase of 11.24 trillion yuan in the first quarter, with household deposits rising by 8.56 trillion yuan. Non-financial corporate deposits increased by 222.5 billion yuan, while fiscal deposits decreased by 285.5 billion yuan. Non-banking financial institution deposits also saw growth, increasing by 1.56 trillion yuan.

In terms of foreign exchange reserves, the country held a balance of US$3.25 trillion at the end of March, with the RMB exchange rate standing at 7.0950 yuan per US dollar. The report also highlighted that the cross-border RMB settlement amount in the current account for the first quarter reached 3.72 trillion yuan, while the cross-border RMB settlement amount for direct investment amounted to 1.97 trillion yuan.

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For more detailed information, please refer to “Guangming Daily,” Page 03, dated April 13, 2024.

责编:孙宗鹤

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