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China's household savings rose 18 percent in August from a year earlier to 8.3 trillion yuan (US$1 trillion), the People's Bank of China, the country's central bank, said in a statement yesterday.
Broad money supply, or M2, rose 15.5 percent in August from a year earlier to 17.3 trillion yuan, following July's 14.4 percent pace. M1, which tracks cash in circulation and demand deposits, rose 14.6 percent to 6.5 trillion yuan. Cash in circulation rose 9.3 percent to 1.57 trillion yuan, according to the statement.
(eastday.com September 12, 2002)
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