China’s M1 and M2 money supply recovers at the end of Feb.

The growth rates of M1 and M2 money supply in China both rebounded at the end of February, with a year-on-year increase rate of 4.8% and 8.8% respectively, according to the statistics released by the People’s Bank of China on March 11.

The growth rates of M1 and M2 money supply in China both rebounded at the end of February, with a year-on-year increase rate of 4.8% and 8.8% respectively, according to the statistics released by the People’s Bank of China on March 11.

To be specific, M2 has a balance of 203,08 trillion yuan at the end of February, an increase of 8.8% year-on-year. The growth rate is 0.4 and 0.8 percentage points higher than that of January and February in 2019. The M1 has a balance of 55.27 trillion yuan, an increase of 4.8% year-on-year.

The growth rate is 4.8 and 2.8 percentage points higher than that of January and February in 2019.

The balance of currency in circulation (M0) is 8.82 trillion yuan, an increase of 10.9% year-on-year. Net cash withdrawn for the month is 506.2 billion yuan.

According to the statistics, the stock of social financing is 257.18 trillion yuan at the end of February, an increase of 10.7% year-on-year. The growth rate basically equals that at the end of January.

The RMB loans in February increased by 905.7 billion yuan, an increase of RMB 19.9 billion year-on-year. Private loans and mid-to-long-term corporate loans have declined significantly. Due to epidemic prevention and control, credit-backed short-term loans instead have increased drastically.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/07/chinas-m1-and-m2-money-supply-recovers-at-the-end-of-feb/.

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