The broad M2 money supply was up 12.9 per cent year-on-year at the end of October, according to People's Bank figures. At the end of September it was 13.6 per cent higher than at the same time in 2000. The narrower measure of money supply, M1, was up 12.3 per cent and M0, or currency in circulation, rose 6.6 per cent. The Bank forecast that M2 would grow by 13-14 per cent in 2001 and M1 by 15-16 per cent.
Outstanding deposits at China's financial institutions were 16.8 per cent higher at the end of October 2001 than at the same time in 2000. Personal savings were up 13.8 per cent year-on-year and corporate deposits were 15.9 per cent higher. Outstanding loans climbed 11.4 per cent year-on-year.
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