By the end of May, broad money M2 in China reached RMB 54.82 trillion ($8.03 trillion), a year-on-year increase of 25.74 percent. The growth rate was up 7.92 percentage points compared with the end of 2008, and was 0.21 of a percentage point lower than the previous month.
By the end of May, total outstanding bank loans of financial institutions in China stood at RMB 36.21 trillion ($5.30 trillion), up 30.6 percent year on year. The growth rate was up 11.87 percentage points compared with the end of 2008, and was 0.88 of a percentage point higher than at the end of April. Meanwhile, total bank loans issued in the month of May reached RMB 664.5 billion ($97.3 billion), up RMB 346 billion ($50.7 billion) year on year.
By the end of May, total deposits at Chinese financial institutions amounted to RMB 54.63 trillion ($8 trillion), up 26.67 percent year on year. The growth rate was up 6.94 percentage points compared with the end of the previous year, and up 0.46 of a percentage point month on month.
In May, the weighted average interest rate for inter-bank lending was 0.85 percent, down 0.01 percentage points month on month. This growth rate was 1.98 percentage points lower compared with the same period last year.