In a monetary policy effort designed to counter slowing domestic growth in the world's 4th Largest economy, China's State Council plans to INCREASE the country's M2 Money Supply by 17% in 2009 (money supply: the total amount of money existing in an economy at a particular time...M2 money supply: those types of monies including all physical cash reserves and banking deposits...FYI + if you're curious re the different classes/types of money supply, please refer to my 3/16/08 post titled 'Components Of Money Supply').According to the People's Bank Of China, China's Money Supply grew to $6.7 Trillion in November 2008...a 14.8% increase over November 2007.
bloomberg.com/apps/newsablWg2RUlVmk
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* In addition to boosting its Money Supply, the Chinese government also plans to INCREASE financial institution lending activity by $584 Billion in 2009 (4 Trillion Yuan)
* The Chinese Central Bank's key one year lending rate is currently at 5.58% (down from 7.47% as recently as in September)
bloomberg.com/apps/news?pid=newsarchive&sid=ah_2uEppubgU
Data Courtesy: Bloomberg
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