At the end of 2006, money supply of broad sense (M2) was 34.6 trillion yuan, representing a year-on-year increase of 16.9 percent. Money supply of narrow sense (M1) was 12.6 trillion yuan, up 17.5 percent. Cash in circulation (M0) was 2.7 trillion yuan, up 12.7 percent. Savings deposit in renminbi and foreign currencies in all items in financial institutions across the country totaled 34.8 trillion yuan at the end of 2006, up 16 percent. Loans in renminbi and foreign currencies in all items in financial institutions across the country reached 23.9 trillion yuan, up 14.7 percent.
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Foreign-funded banks are everywhere in the Luijiazui Financial District in Shanghai's Pudong New Area. China's financial sector is facing new challenges after fully opening to the outside world.
Savings Deposit and Loans in Renminbi and Foreign Currencies in All Financial Institutions and the Growth Rates in 2006
|
Item |
Year-end figure (100m yuan) |
Increase over 2005 (%) |
|
Balance of savings deposits |
348065 |
16 |
|
Of which: By enterprises |
118881 |
16.8 |
|
By urban and rural residents |
166617 |
13.3 |
|
Of which: Deposits in renminbi |
161587 |
14.6 |
|
Outstanding loans |
238519 |
14.7 |
|
Of which: Short-term |
101762 |
10.9 |
|
Middle- and long-term |
113173 |
21.3 |
Outstanding loans in renminbi from rural financial cooperation institutions (i.e. rural credit cooperatives, rural cooperation banks and rural commercial banks) totaled 2.6 trillion yuan at the end of 2006, an increase of 427.7 billion yuan as compared with the end of 2005. Loans in renminbi for consumption use from all financial institutions amounted to 2.4 trillion yuan, up 206.8 billion yuan. Of all consumption loans, those for individual housing purchasing totaled 1.99 trillion yuan, up 143.9 billion yuan.
Funds raised in 2006 by enterprises through issuing stocks and share rights on the stock market amounted to 559.4 billion yuan, an increase of 371.2 billion yuan over the previous year. Of this total, 128 companies issued A shares (including newly issued and convertible loan stocks) and other two companies issued A share rights, receiving 246.4 billion yuan worth of capital altogether, an increase of 212.6 billion yuan over 2005. The issue of 34 H shares raised another 313.1 billion yuan worth of capital, an increase of 158.6 billion yuan. The number of listed companies (with A or B shares) on China's stock market rose from 1,381 at the end of 2005 to 1,434 at the end of 2006. Their combined market value reached 8.9404 trillion yuan, seeing an increase of 175.7 percent year on year.
Corporate debentures issued throughout the year reached 101.5 billion yuan, an increase of 36.1 billion yuan over 2005. Short-term financing bonds were worth 294.3 billion yuan, an increase of 155.1 billion yuan.
The premium received by insurance companies totaled 564.1 billion yuan in 2006, up 14.4 percent over the previous year. Of this total, life insurance premium amounted to 359.3 billion yuan, health and casualty insurance premium came to 53.9 billion yuan, and property insurance premium stood at 150.9 billion yuan.
Insurance companies paid an indemnity worth 143.9 billion yuan, of which, life insurance indemnity was 46.5 billion yuan, health and casualty insurance indemnity was 17.7 billion yuan, and property insurance indemnity was 79.6 billion yuan.