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Growth rate of resident's deposits eases

(Xinhua)
Updated: 2007-05-14 09:05

China's increment ofRenminbideposits hit 444 billion yuan at the end of April, down by 13.3 billion yuanyear on year, a report released by the People'sBank of China(PBOC) said on Sunday.

Related readings: Chinese residents' bank deposits hit 17.5 trln yuan Central bank: deposits 'diverted to stocks' China allows banks to buy overseas stocks

Resident's Renminbi deposits declined by 167.4 billion yuan in April, down by 228 billion yuan year on year, according to the PBOC's financial executive report.

Meanwhile, loans in Renminbi grew by 422 billion yuan, an increase of 105.8 billion yuan year on year.

Among the total, resident's Renminbi loans grew by 123.6 billion yuan, up 63 billion yuan year on year.

The broad money supply (M2) hit 36.7 trillion yuan at the end of April, an increase of 17.1 percent year on year, and 0.1 percentage point lower than that at the end of March.

The narrow money supply (M1) reached 12.8 trillion yuan during the same period, up 20 percent year on year, and 0.2 percentage points higher than that at the end of March.