M2 seen to climb 17% in 2010
Source: Xinhua |
June 19, 2010, Saturday
|
Print Edition
Print Edition
CHINA'S broad money supply M2, which covers cash in circulation and all deposits, is expected to grow 17 percent in 2010 from last year, the People's Bank of China said yesterday.
China's M2 had risen 21 percent year on year to 66.34 trillion yuan (US$9.73 trillion) by the end of May, central bank data showed.
China would maintain its moderately relaxed monetary policy in 2010, according to the PBOC annual report released yesterday.
The PBOC said in the report that it would work to control the pace of credit growth, maintain the balance of credit, and avoid apparent fluctuations.
It also said a differentiated credit policy should be carried out to optimize the nation's credit structure.
Specifically, more credit support should be made available for agriculture and small- and medium-sized firms, which face difficulties in obtaining funds.
Favorable credit policies should also be implemented to support underdeveloped sectors, employment, strategically important industries such as new energies, new materials, and energy savings, while strict credit controls should be imposed on energy-consuming and polluting industries, according to the report.
China's M2 had risen 21 percent year on year to 66.34 trillion yuan (US$9.73 trillion) by the end of May, central bank data showed.
China would maintain its moderately relaxed monetary policy in 2010, according to the PBOC annual report released yesterday.
The PBOC said in the report that it would work to control the pace of credit growth, maintain the balance of credit, and avoid apparent fluctuations.
It also said a differentiated credit policy should be carried out to optimize the nation's credit structure.
Specifically, more credit support should be made available for agriculture and small- and medium-sized firms, which face difficulties in obtaining funds.
Favorable credit policies should also be implemented to support underdeveloped sectors, employment, strategically important industries such as new energies, new materials, and energy savings, while strict credit controls should be imposed on energy-consuming and polluting industries, according to the report.
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