Money supply, credit growth boost stability

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2018-10-28

Chinese100yuanbanknotesareseeninacountingmachinewhileaclerkcountsthematabranchofacommercialbankinBeijing,China,inthisMarch30,2016filepicture.[Photo/Agencies]Chinasmoneysupplygrowthexceededexpectationslastmonthandcreditincreased,furtherbolsteringstableeconomicgrowth,,thebroadmoneysupply,knownasM2,,,accordingtothePeople($)inSeptember,,,srealeconomy,supportedbydomesticnonfinancialcorporationsandlocalhouseholds,,struction,asthecountrysfixed-assetinvestmentslowedintheyearsfirsthalf."TheissuanceoflocalgovernmentspecialbondshasacceleratedsinceAugust,"whichhashadnotableinfluenceonbankslendingandcorporatebonds,saidZhangWenhong,deputydirectorofthecentralbank,,,adetensions,thePBOChasenactedfourreductionsofreserverequirementratiosforfinancialinstitutionsthisyear,plyandcreditmightaddinflationpressure,thoughmonetaryauthoritieshavereiteratedthattherewillbenochangeinthe"prudentandneutral",YiGang,thecentralbankgovernor,saidthecurrentquantityandgrowthrateofmoneyandcreditinChinawereat"appropriate"percent."Despitealessbenigninflationaryenvironment,weexpectthatstabilizinggrowthwillbethemostimportantgoalformonetarypolicyinthenearfuture,"saidLiZhennan,aneconomistwithGoldmanSachs(Asia).▓。