M2 grew by 17.6 percent, RMB deposits by 19 percent, loans by 13 percent. The destination and maturity structure of loans became better. Short-term working capital loan and bill financing accounted for a substantially larger share, i.e. 47.7 percent, in the new loan. The excessive growth of medium and long-term loans were checked, its share in the new loan declining by 10.8 percentage points.
The rural area, agricultural sector and farmers received stronger financial support. The exchange rate regime reform was implemented smoothly. Exchange rate moved in both directions and its flexibility increased gradually. Between July 21 and end of 2005, the highest RMB to dollar exchange rate when market was closed was 8.0702 yuan, while the lowest reached 8.1128 yuan.