| Banking, Securities and Insurance of China |
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| Sunday,March 22,2009 Posted: 18:47 BJT(47 GMT) |
| From:Mofcom Article type:Reproduced |
At the end of 2007, money supply of broad sense (M2) was 40.3 trillion yuan, representing a year-on-year increase of 16.7 percent. Money supply of narrow sense (M1) was 15.3 trillion yuan, up 21.1 percent. Cash in circulation (M0) was 3 trillion yuan, up 12.2 percent. Savings deposit in renminbi and foreign currencies in all financial institutions totaled 40.1 trillion yuan at the end of 2007, up 15.2 percent. Loans in renminbi and foreign currencies in all financial institutions stood at 27.8 trillion yuan, up 16.4 percent.
Loans in renminbi from rural financial cooperation institutions (i.e. rural credit cooperatives, rural cooperation banks and rural commercial banks) totaled 3.1 trillion yuan at the end of 2007, an increase of 508.5 billion yuan compared with that at the beginning of 2007. Loans in renminbi for consumption use from all financial institutions totaled 3.3 trillion yuan, an increase of 869.9 billion yuan. Of all consumption loans, those for individual housing totaled 2.7 trillion yuan, an increase of 714.7 billion yuan.
Enterprises raised 843.2 billion yuan through issuing stocks and share rights in 2007, an increase of 283.8 billion yuan over the previous year. Of this total, 283 companies issued A-shares (including newly issued and convertible loan stocks) and seven companies issued A-share rights, raising 772.8 billion yuan, an increase of 526.4 billion yuan over 2006. The issuance of 14 H-shares raised another 70.4 billion yuan worth of capital, a decrease of 242.7 billion yuan. The number of listed companies (with A- or B-shares) on China’s stock market rose from 1,434 at the end of 2006 to 1,550 at the end of 2007, representing 32.7141 trillion yuan worth of market value, a growth of 265.9 percent over the previous year.
The total value of corporate bonds issued throughout the year reached 1.7084 trillion yuan, an increase of 352 billion yuan over 2006. Of this total, financial bonds were worth 1.1913 trillion yuan, a growth of 230.8 billion yuan; enterprise (corporate) bonds were worth 182.1 billion yuan, an increase of 80.6 billion yuan; and the short-term financing funds were worth 334.9 billion yuan, an increase of 40.6 billion yuan.
The premium received by insurance companies totaled 703.6 billion yuan in 2007, up 25 percent over the previous year. Of this total, life insurance premium stood at 446.4 billion yuan, health and casualty insurance premium reached 57.4 billion yuan and property insurance premium amounted to 199.8 billion yuan. Insurance companies paid 226.5 billion yuan in indemnity, of which, life insurance indemnity was 106.4 billion yuan, health and casualty insurance indemnity was 18 billion yuan and property insurance indemnity was 102.1 billion yuan.
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