M0 supply growth falls

THE People's Bank of China says the mainland's money supply growth slowed last month.

The outstanding amount of M0, an equivalent of notes and coins in circulation, stood at 736.89 billion yuan (about HK$684.57 billion), up 14.9 per cent from a year ago.

The growth rate was 11.5 per cent down from September last year, and 4.1 per cent lower than August.

The outstanding amount of 'narrow money' (M1), or M0 plus current accounts, was at 2.24 trillion yuan, an increase of 18.3 per cent from a year ago. The growth rate was down 14.2 per cent year-on-year, and 1.4 per cent month-on-month.