China’s Money Supply Grows 14.3 Percent In September From A Year Ago

A working staff counts the Chinese currency at a credit union in Tancheng County of Linyi City, east China’s Shandong Province, Oct. 14, 2012. China’s broad measure of money supply (M2) grew at a record speed this year in September, leading experts to believe that the country’s pro-growth policies are working and market liquidity is improving. The People’s Bank of China, the country’s central bank, said on Saturday that China’s M2 rose 14.8 percent in September from a year ago, accelerating from the 13.5-percent growth registered in August. The growth rate was the highest since July 2011 and well above the central bank’s annual target of 14 percent. <Xinhua/Zhang Chunlei>

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