February reduction in credit by more than 500 billion

Securities Times reporter Jia Gong the People's Bank of China reported yesterday that the renminbi loan increased by 535.6 billion yuan in February, a sharp reduction of 504.4 billion yuan from January, a small increase of 192.9 billion yuan from a year earlier.　　The rapid decline in loans in February indicated that the controls previously adopted had achieved significant results. As of the end of February, the renminbi loan balance of 48.89 trillion yuan, an increase of 17.7%, compared to the end of last month and a year earlier, respectively, lower 0.8 and 9.5%. Among the new loans in February, household loans increased by 105.8 billion yuan, including short-term loans increased by 600 million yuan, medium and long-term loans increased by 105.2 billion yuan, non-financial enterprises and other sectors of the loan increase of 430.6 billion yuan, including short-term loans to increase 233.4 billion yuan, medium and long-term loans increased by 263.4 billion yuan,　　Bill financing reduced by 71.2 billion yuan. At the end of February, the broad currency (M2) balance of 73.61 trillion yuan, an increase of 15.7%, compared to the end of last month and the same period of 1.5 and 9.8% respectively, the narrow currency (M1) balance of 25.91 trillion yuan, an increase of 14.5%, compared to the end of last month 0.9%, lower than the same period 20.5%. The balance of currency (M0) in circulation was 4.73 trillion yuan, which grew 10.3%.　　Due to the Spring Festival factor, the month cash net withdrawal 1.08 trillion yuan. February month, the foreign currency deposits increased by 1.33 trillion yuan, more than 321.4 billion yuan. RMB deposit balance of 72.59 trillion yuan, an increase of 17.6%, compared to the end of last month 0.2%, lower than a year earlier, 7.4%. The month RMB deposit increased 1.31 trillion yuan, more than 333.4 billion yuan.