In the third quarter of 2009, loans issued by China's banks still maintained rapid growth against the steady performance of the overall financial system.
By the end of September, broad money M2 reached RMB 58.54 trillion, a year-on-year increase of 29.31 percent. This increase rate was up 11.49 percentage points compared with the end of 2008, and was 0.78 of a percentage point higher than at the end of August this year. Meanwhile, at the end of September narrow money M1 stood at RMB 20.17 trillion, up 29.51 percent year on year. The M1 growth rate was up 1.79 percentage points over the level one month before.
By the end of September, total outstanding bank loans of financial institutions in China stood at RMB 39.04 trillion, up 34.16 percent year on year. This growth rate was up 15.43 percentage points compared with the end of 2008, and was 0.05 of a percentage point higher than at the end of August. Meanwhile, total bank loans issued in the first nine months of 2009 reached RMB 8.67 trillion, up RMB 5.19 trillion year on year. China's new loans in September reached RMB 516.7 billion.
By the end of September, total deposits at Chinese financial institutions amounted to RMB 58.39 trillion, up 28.35 percent year on year. In September, China's new deposits totaled RMB 999.2 billion.
In September, the weighted-average interest rate for inter-bank lending was 1.27 percent, up 0.06 of a percentage point month on month.
By the end of September, the national foreign exchange reserve stood at $2.2726 trillion, up 19.26 percent year on year, an increase of $326.6 billion compared with the end of 2008. At the end of September, the average RMB/USD exchange rate reached 6.8290.