VIII. Money Supply Grew Rapidly, Newly Increased Credits Increased by a Large Margin. At the end of December, the broad money (M2) was 60.6 trillion yuan, it was up 27.7 percent as compared with that at the end of 2008, the growth rate was 9.9 percentage points higher over that in the previous year; the narrow money (M1) was 22.0 trillion yuan, up by 32.4 percent, or 23.3 percentage points higher; the cash in circulation (M0) was 3,824.6 billion yuan, a rise of 11.8 percent, or down by 0.9 percentage points. The amount of outstanding loans of all financial institutions was 40.0 trillion yuan, increased by 9.6 trillion yuan over that at the beginning of this year, or an increase of 4.7 trillion yuan as compared with the same period last year.
At present, the base of world economy recovery is relatively weak; there are uncertainties in domestic economic development. Facing the complex situation of coexistence of difficulties and opportunities, we should unswervingly carry out various plans set by the central government on economic work; thoroughly apply the scientific outlook of development; maintain the consistency and stability of the macro economic policy; put forth effort to enhance the pertinence and flexibility of policies; further improve the quality and efficiency of economic growth; accelerate the change of economic growth mode and the adjustment of economic structures; actively push forward reform, opening-up and independent innovation; attach importance to the improvement of people's livelihood and maintain a harmonious and stable social climate; take both international and domestic situation into consideration and plan accordingly; and achieve a steady and fast growth of national economy.