Financial Conditions (October 2002)
Central Bank of China
PRESS RELEASE Release Date: November 25, 2002
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Financial Conditions (October 2002)
Monetary Aggregates For the month of October 2002, the annual growth rates of
the monetary aggregates M1A, M1B and M2, measured on a daily average basis, were
10.99%, 16.79%, and 2.52%, respectively, all of which fell from the figures
recorded in the previous month. The M2 aggregate plus bond funds held by the
general public posted an annual growth rate of 4.44% for the month. The lower M2
growth was mainly due to the decelerating growth of loans and investments. For
the first ten months of this year, M2 exhibited an average annual growth rate of
3.69%.
Direct and Indirect Finance At the end of October, the annual growth rate of
total loans and investments in major financial institutions, including monetary
institutions and the Postal Savings System, edged up from "3.26% at the end of
the previous month to "3.15%. If loans and investments extended by life
insurance companies and investment and trust companies, major financial
institutions' reclassifying non-accrual loans and writing-off bad loans, as well
as funds raised directly from financial markets were taken into account, the
total funds raised by non-financial sectors showed an annual growth rate of
3.21% for the month.
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