Financial intermediation 2017

By the end of 2017, money supply in a broad sense (M2) was 167.7 trillion yuan($24.84 trillion), reflecting an increase of 8.2 percent. Money supply in a narrow sense (M1) was 54.4 trillion yuan, up 11.8 percent. Cash in circulation (M0) was 7.1 trillion yuan, up 3.4 percent.

In 2017, the increase in social financing reached 19.4 trillion yuan, or 1.6 trillion yuan more than that in 2016 on a comparable basis. The existing fund of social financing totaled 174.6 trillion yuan at the end of 2017, up by 12.0 percent compared with the end of 2016. Savings deposits in Renminbi and foreign currencies in all branches of financial institutions totaled 169.3 trillion yuan at the end of 2017, an increase of 13.7 trillion yuan compared with the beginning of the year. Of this total, savings deposits in Renminbi stood at 164.1 trillion yuan, an increase of 13.5 trillion yuan. Loans in Renminbi and foreign currencies in all branches of financial institutions reached 125.6 trillion yuan, an increase of 13.6 trillion yuan. Of this total, loans in Renminbi were 120.1 trillion yuan, an increase of 13.5 trillion yuan.

Loans in Renminbi from rural financial institutions (rural credit cooperatives, rural cooperation banks and rural commercial banks) totaled 14.98 trillion yuan by the end of 2017, an increase of 1.56 trillion yuan compared with the beginning of the year. Loans in Renminbi for consumption use from all financial institutions totaled 31.52 trillion yuan, an increase of 6.47 trillion yuan. Of the total, short-term personal loans totaled 6.80 trillion yuan, an increase of 1.87 trillion yuan, and medium and long-term personal loans reached 24.72 trillion yuan, an increase of 4.60 trillion yuan.

Funds raised in 2017 by listed companies through domestic market amounted to 4.08 trillion yuan, a decrease of 1.22 trillion yuan from 2016. Of this total, 419 A-shares completed subscription, raising 218.6 billion yuan worth of capital altogether. The refinancing of A-shares (including public newly issued, targeted placement, right issued, and preferred stock) raised 920.9 billion yuan worth of capital, a decrease of 417.8 billion yuan from 2016. Listed companies financed 2.81 trillion yuan through issuing bonds (including corporate bonds, convertible bonds, exchangeable bonds and asset-backed securities) on Shanghai and Shenzhen Stock Exchanges, down by 856.3 billion yuan. In 2017, 2,176 companies were newly listed on National Equities Exchange and Quotations, raising 133.6 billion yuan, down by 3.95 percent.

In 2017, 5.64 trillion yuan corporate debenture bondswere issued, a decrease of 2.59 trillion yuan over 2016.

The premium received by insurance companies totaled 3.66 trillion yuan in 2017, up 18.2 percent from 2016. Of this total, life insurance premiums amounted to 2.15 trillion yuan, health and casualty insurance premiums 529.1 billion yuan, and property insurance premiums 983.5 billion yuan. Insurance companies paid an indemnity worth 1.12 trillion yuan, of which life insurance indemnity was 457.5 billion yuan, health and casualty insurance indemnity 151.8 billion yuan, and property insurance indemnity 508.7 billion yuan.

At the end of 2017, China’s foreign exchange reserves reached $3,139.9 billion, an increase of $129.4 billion compared with the end of 2016. The average exchange rate of the year was 6.7518 RMB to 1 USD dollar, a depreciation of 1.6 percent from 2016.