April 15, 2014 / 9:08 AM / in 5 years

China M2 growth normal level, liquidity ample to support economy: central bank

BEIJING (Reuters) - Money supply growth in China remains at a reasonable level and total liquidity is ample enough to meet the needs of the real economy, a senior official at the central bank said in remarks published by the official Xinhua news agency on Tuesday.

Sheng Songcheng, the head of the statistics department of the People’s Bank of China, also projected M2 growth, a broad measure of money supply, at around 13 percent for this year.

“Compared to macro-economic indicators, the current M2 growth rate stays at normal levels and liquidity conditions are still ample to support the development of the real economy,” Xinhua quoted Sheng as saying.

He also added that the M2 growth in the second half could be quicker than that in the first half.

Earlier the central bank said M2 grew 12.1 percent last month from a year earlier. That was weakest pace in more than a decade.

Reporting by China Economics Team

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