China money supply to increase 14 percent

By IANS,

Beijing : China’s central bank has set a target of 14 percent growth rate for its money supply in 2012.

---

Support TwoCircles

---

M2, an important gauge of money supply, mainly includes data of currency in circulation, companies’ demand and time deposits, household savings.

At the end of 2011, China’s M2 reached 85.2 trillion yuan, up 13.4 percent year-on-year, but the growth rate decreased 6.1 percent from the end of 2010, People’s Daily reported Friday.

China will utilize various monetary policies, adopt sound and prudential macroeconomic policy framework and improve credit structure to keep reasonable money supply, the bank said.