China's forex deposits, loans up

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Last updated at: (Beijing Time) Monday, November 10, 2003

China's forex deposits, loans up

China's foreign exchange deposits have grown slightly while foreign exchange loans have jumped.

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China's foreign exchange deposits have grown slightly while foreign exchange loans have jumped.

Figures released Monday by the People's Bank of China, or the central bank, showed that outstanding forex deposits in financial institutions stood at 150.1 billion US dollars at the end of October, a slight increase of 1.7 percent year on year.

Of the total deposits, corporate money was 52.2 billion dollars, increasing 4.9 percent on a yearly basis, while savings deposits went down 1.9 percent to 86.8 billion dollars.

Forex loans continued to grow fast in October. At the end of the month, outstanding forex loans were 128.2 billion dollars, surging 28.4 percent from a year ago.

Included were 43.7 billion dollars of short-term loans and 46.3 billion dollars of middle- and long-term loans among others, up 44.6 and 31.9 percent, respectively, year on year.

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