According to the statistics released by People's Bank of China on Feb. 17, the financial operation at the beginning of 2005 show a tendency of health and stability.

As learned, the main characteristics of financial operation at the beginning of 2005 are: the amount of money supply M2 and various loans have increased stably; the influence of Spring Festival seasonal factors on the deposits of non-financial enterprises has remarkably decreased; the market volumes within banks have risen a little; the interest rates in the money market stood rather low and RMB exchange rates maintained relatively stable.

By the end of January 2005, the balance of various RMB deposits stood at 24.25 trillion yuan, up 16.7 percent year-on-year or 0.7 percent higher than that in December 2004. Among the total deposits, resident savings accounted for 12.22 trillion yuan, up 11.9 percent from last year, or 3.5 percent lower than that in December 2004, or 8.6 percent lower than that in the same period last year.

The rate of exchange of one US dollar was equivalent to 8.2765 RMB by the end of January 2005, maintaining a situation of stability.

By People's Daily Online