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Originally posted by Everynowhere at 2010-7-15 18:16
- Anyway, the possibility of prices gains is quite high, as credits grew by 50% of the country's GDP in 2009 - that money has to go somewhere, although the government is trying to curb speculations. And don't forget about the 5 trillion Yuan stimulus package (although a lot of that money went into a few pockets).
The lion's share of the stimulus went into infrastructure.
About the money supply - here is a piece of news from today's CD:
The balance of broad money supply (M2), which covers cash in circulation and all deposits, was 67.4 trillion yuan ($9.95 trillion) at the end of June, up 18.5 percent year-on-year, the National Bureau of Statistics (NBS) announced Thursday.
The balance of narrow measure of money supply (M1), cash in circulation plus current corporate deposits, increased 24.6 percent year-on-year to 24.1 trillion yuan by the end of June, the NBS said.
The balance of cash in circulation (M0) was 3.9 trillion yuan, up by 15.7 percent, it said.
The amount of outstanding loans of all financial institutions totalled 44.6 trillion yuan, up 4.6 trillion yuan from the beginning of this year but down 2.7 trillion yuan compared with a year ago.
The balance of renminbi deposits was 67.4 trillion yuan, an increase of 7.6 trillion yuan from the beginning of the year, but 2.3 trillion yuan less than a year earlier.