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China plans 'proper, sufficient' supply of money, credit in 2010

(Xinhua)
Updated: 2010-03-05 09:16
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China will inject "proper and sufficient"  money and credit into the economy to ensure growth this year, as the moderately easy monetary policy will continue, says a government work report delivered by Premier Wen Jiabao at the parliament's annual session Friday.

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The renminbi loan target is about 7.5 trillion yuan ($1.10 trillion), 21 percent less than the figure for 2009, says the report distributed to the media before the opening of the Third Session of the 11th National People's Congress (NPC).

The broad measure of money supply, M2, which covers cash in circulation and all deposits, will rise around 17 percent year-on-year in 2010, slowdown from an increase of nearly 30 percent last year.
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