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| Thursday, 13 January 2011, 14:50 HKT/SGT | |
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Source: Himfr.com | |
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BEIJING, Jan 13, 2011 - (ACN Newswire) - The analyst from Hirfm.com reported that The People's Bank of China, China's central bank, reported on Tuesday that China held 18.88 trillion RMB worth of foreign exchange reserves in the end of year 2010, compared with last year, it has increased 18.7%.
Hirfm.com (http://www.himfr.com/hot-products/) said that with 1318.36 billion RMB of new foreign exchange reserves, the fourth quarter of 2010 witnessed the highest rise of the year. The first quarter increases was 317.34 billion RMB, 47.7 billion RMB belonged to the second quarter and the third quarter was 1285.25 billion RMB.
At the end of 2010, the Chinese currency was appreciating 3%, valued at 6.6227 RMB against the U.S. dollar.
The analyst of Hirfm.com said new RMB-denominated bank loans were 7.95 trillion RMB in 2010, which exceeded the ceiling of 7.5 trillion RMB set by the central bank. Banks are expected to be more cautious on new credit grants, because of that the context of 2011 is country's tightening monetary policy.
The new RMB-denominated deposits are registered at 12 trillion RMB in 2010, which is 2 trillion RMB less than the total of new deposits in 2009.
Contact:
http://www.himfr.com/
Tel: +86-10-65569770
Email: my@himfr.com
Topic: Research / Industry Report
Source: Himfr.com
Sectors: Daily Finance
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From the Asia Corporate News Network
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