Financial intermediation 2016

By the end of 2016, money supply in a broad sense (M2) was 155.0 trillion yuan($23.34 trillion), reflecting an increase of 11.3 percent. Money supply in a narrow sense (M1) was 48.7 trillion yuan, up 21.4 percent. Cash in circulation (M0) was 6.8 trillion yuan, up 8.1 percent.

In 2016, the increase in social financing reached 17.8 trillion yuan, a increase of 2.4 trillion yuan from 2015. Savings deposits in Renminbi and foreign currencies in all branches of financial institutions totaled 155.5 trillion yuan at the end of 2016, an increase of 15.7 trillion yuan compared with the beginning of the year. Of this total, savings deposits in Renminbi stood at 150.6 trillion yuan, an increase of 14.9 trillion yuan. Loans in Renminbi and foreign currencies in all branches of financial institutions reached 112.1 trillion yuan, an increase of 12.7 trillion yuan. Of this total, loans in Renminbi were 106.6 trillion yuan, an increase of 12.6 trillion yuan.

Loans in Renminbi from rural financial institutions (rural credit cooperatives, rural cooperation banks and rural commercial banks) totaled 13.42 trillion yuan by the end of 2016, an increase of 1.39 trillion yuan compared with the beginning of the year. Loans in Renminbi for consumption use by domestic households from all financial institutions totaled 25.05 trillion yuan, an increase of 6.10 trillion yuan. Of the total, short-term loans totaled 4.93 trillion yuan, an increase of 834.7 billion yuan, and medium and long-term loans reached 20.12 trillion yuan, an increase of 5.27 trillion yuan.

Funds raised in 2016 by enterprises through issuing stocks and share rights on the stock market amounted to 2.33 trillion yuan, an increase of 508.8 billion yuan from the previous year. Of this total, 248 A-shares were issued, raising 163.4 billion yuan worth of capital altogether. The refinancing of A-shares (including public newly issued, targeted placement, right issued, and preferred stock) raised 1.34 trillion yuan worth of capital, an increase of 461.8 billion yuan from 2015. Listed companies financed 832.1 billion yuan through issuing corporate bonds and convertible bonds on Shanghai and Shenzhen Stock Exchanges, increased by 41.4 billion yuan. In 2016, 5,034 companies were newly listed on National Equities Exchange and Quotations, raising 139.1 billion yuan, up by 14.4 percent.

In 2016, 8.22 trillion yuan corporate debenture bondswere issued, an increase of 1.50 trillion yuan over 2015.

The premium received by insurance companies totaled 3.10 trillion yuan in 2016, up 27.5 percent from 2015. Of this total, life insurance premiums amounted to 1.74 trillion yuan, health and casualty insurance premiums 479.2 billion yuan, and property insurance premiums 872.5 billion yuan. Insurance companies paid an indemnity worth 1.05 trillion yuan, of which life insurance indemnity was 460.3 billion yuan, health and casualty insurance indemnity 118.4 billion yuan, and property insurance indemnity 472.6 billion yuan.

At the end of 2016, China’s foreign exchange reserves reached $3.01 trillion , a decrease of $319.8 billion compared with the end of 2015. The average exchange rate of the year was 6.6423 RMB to 1 USD, a depreciation of 6.2 percent from 2015.