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Overview of Chongqing financial status in April 2011

In April 2011, there was a slight decrease in the outstanding deposits in Chongqing financial institutions, while a steady increase was found in outstanding loans. The trading volume in financial market was stable, and Renminbi settlement for cross-border trade tended to increase stably.
I. Slight decrease in the outstanding deposits, especially an obvious drop in resident deposits
In late April, the deposits of domestic and foreign currency in the financial institutions of the whole city reached RMB 1445,837 billion, up by 18.13% on a year-on-year basis. This month, it decreased by RMB 3,043 billion, a reduction of RMB 29,128 billion greater than that in the same period of the previous year, while it increased by RMB 84,167 billion over the beginning of this year, an increase of RMB 30,873 billion smaller than that in the same period of the previous year. Wherein, the RMB deposit balance was RMB 1434,789 billion, a year-on-year growth of 18.31%. This month, it decreased by RMB 18 million, a reduction of RMB 26,537 billion greater than that in the same period of the previous year, while it increased by RMB 89,134 billion over the beginning of this year, an increase of RMB 30,013 billion smaller than in the same period of the previous year.
There appeared an increase both in term deposits and current deposits of non-financial enterprises, with the term deposits as a dominant form. In late April, the deposit balance of non-financial enterprises was RMB 572,111 billion, and there was an increase of RMB 12,529 billion in this month. Wherein, this month the current deposits of non-financial enterprises increased by RMB 2,756 billion, and the term deposits increased by RMB 9,772 billion, taking up 78% of the increase rate of the deposits of non-financial enterprises.
There was an obvious drop in resident deposits and current deposits. In late April, the RMB resident deposit balance was RMB 636,753 billion. This month, it decreased by RMB 73.55 billion, a reduction of RMB 3,684 billion greater than that in the same period of the previous year, while it increased by RMB 48,853 billion over the beginning of this year, an increase of RMB 8,122 billion greater than that in the same period of the previous year. Wherein, the current deposits in this month decreased by RMB 10,259 billion, a reduction of RMB 7,072 billion greater than that in the same period of the previous year. The term deposits in this month increased by RMB 2,904 billion, an increase of RMB 3,388 billion greater than that in the same period of the previous year. The drop in resident deposits is mainly resulted from two aspects: one is that part of savings deposits flows into financing products with higher rate of return. For instance, according to Chongqing branch of a bank, the financing products sold in April reached RMB 4 billion. The other is that resident deposits can be affected by seasonal factors. The scale effects in the end of a season will gradually fade away.
The fiscal deposits go up again. At the end of April, the balance of the fiscal deposits reached RMB 26.517 billion with an increase of 3.383 billion in that month, with an increase of RMB 6.87 billion less than that of the same period of this year.
II. The outstanding loan keeps a steady growth and the short-term loan keeps a rapid growth.
At the end of April, the Loan balance of domestic currency and foreign currency in the financial institutions of the whole city reached RMB 1,199.649 billion with a year-on-year increase of 24.23%; it increased by 27.892 billion in this month, with an increase of RMB 11.156 billion greater than that of the same period of this year. And it increased RMB 99.661 billion over the beginning of the year with an increase of RMB 19.643 billion on a year-on-year basis. Of the loans, the outstanding loan balances reached RMB 1,186.531 billion with an increase of 24.22% on year-on-year basis; it increased RMB 27.831 billion in this month, with a year-on-year increase of RMB 11.177 billion greater than that of the same period of this year; it increased RMB 97.716 billion over the beginning of the year, with an increase of RMB 19.155 billion greater than that of the same period.
The short-term loan keeps a rapid growth. At the end of April, RMB short-term loan balances were RMB 190.672 billion with a year-on-year increase of 23.98%, up 3.59 percentage point than that of March, making the highest growth rate over the past nearly 5 years. It increased RMB 5.349 billion in this month, covering 19.22% of all loan increments, with an increase of RMB 5.485 billion greater than that of the same period of this year; and it increased RMB 22.059 billon over the beginning of the year with an increase of RMB 18.25 billion greater than that of the same period of this year; Of the loans, the company short-term business loans increased RMB 5.023 billion in this month, covering 93.91% of the short-term loans increments of this month. This month, individual short-term consumer loans increased RMB 211 million with an increase of RMB 327 million greater than that of the same period of this year. The short-term loans take a growing proportion constantly, which will help to further optimize the maturity structure of loans. Currently, as the credit plan of the bank is tightening, to avoid liquidity risk, the bank increases the proportion of short-term loans so as to ease liquidity pressure of funds. Under the guidance of the policy of Chongqing Business Office, all financial institutions make it clear that they will adjust the maturity structure in 2011, and increase short and medium term loans particularly in trade and finance, and strictly control long-term loans, shorten the loan re-pricing period, and increase the loan proceeds and optimize the matching of assets and liabilities at the same time
The increase of medium and long term loans was continuously slowed down, while company business loans and individual medium and long term consumer loans saw a rapid growth. At the end of April, RMB medium and long term loan balances were 936.917 billion with a year-on-year increase of 24.20%. RMB increment of the month was 15.325 billion, covering 55.07% of all loan increments, less increased by 1.166 billion on a year-on-year basis. RMB 66.77 billon was increased over the beginning of the year, presenting a year-on-year less increase of 31.219 billion. Of the balances, individual medium and long term consumer loan occupied 236.922 billion with an increase of 5.252 billion in the month, covering 34.27% of medium and long term loan increment and presenting a year-on-year less increase of 1.161 billion. Balances of company fixed asset loans were 492.064 billion with a reduction of 1.376 billion in the month. Balances of city’s companies medium and long business loans occupied 151.887 billion with an increase of 8.022 billion in the month, covering 52.35% of medium and long term loan increment.    
Bill financing rebounded remarkably. At the end of April, bill financing balances reached 45.871 billion, decreased by 2.13% on a year-on-year basis. RMB increment of the month was 4.717 billion, the biggest monthly increment since from 2010, covering 16.95% of all loan increments with a year-on-year increase of 4.417 billion. RMB 3.546 billon was increased over the beginning of the year, presenting a year-on-year increase of 26.783 billion. The main reason of remarkable bill financing rebound was that the bill financing of one bank was increased by 7.019 billion comparing to that of last month.
III. Stable trading volume in financial market
In April, Chongqing financial institutions were involved in the inter-bank market transactions with a total amount of 156.43766 billion, increased by 0.49% on a year-on-year basis. Wherein, inter-bank lending transactions reached 16.43 billion with a year-on-year reduction of 21.12%, bond pledge-based repurchase transactions reached 89.583 billion increased by 8.39%, bonds outright repo transactions reached 6.121 billion while no such the transaction occurred in the same period of last year, and cash transaction reached 44.304 billion with a year-on-year reduction of 15.12%. Financial institutions received a net capital of 72.803 billion from inner-bank market, presenting a year-on-year increase of 59.99%. In April, the weighted average interest rate of online inter-bank lending transactions of Chongqing financial institutions was 2.15%, a decrease of 0.16 percentage point over March. The weighted average interest rate of bond pledge-based repurchases transactions was 2.30%, an increase of 0.22% over March. The weighted average interest rate of bonds outright repo is 3.29%, increased by 0.50 percentage point over March.
IV. Business of Cross-border Yuan Trade Settlement
In April, business of the cross-border yuan trade settlement in Chongqing Municipality sustained a trend of steady growth, with its monthly settlement reaching RMB 645 million Yuan, almost equal with the settlement of last month. The amount of settlement for export trade in goods was RMB 132 million Yuan, import trade in goods RMB 424 million Yuan, trade in services and other regular projects RMB 89 million Yuan.
Meanwhile, overseas area that has business of yuan trade settlement with Chongqing Municipality is increasingly expanding. By the end of April, the number of overseas countries and regions which have actual business of cross-border yuan trade settlement with enterprises in Chongqing Municipality amounted to 16, with Mauritius and Singapore being newly added in this April. Percentage of accumulative settlement amount of actual off-shore with Hong Kong and Myanmar continues to decline to 57.4%; percentage of accumulative settlement amount of actual off-shore with the United States rises up to 15.7%.
   

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