China June M2 money supply +8.5% vs +8.6% y/y expected

Latest Chinese credit data for May has been released – 12 July 2019

  • Prior +8.5%
  • New yuan loans ¥1,660.0 bn vs ¥1,700.0 bn expected
  • Aggregate financing ¥2,260.0 bn vs ¥1,900.0 bn expected


Money supply growth in China continues to hold steady between 8-9% over the past year-and-a-half as officials continue to balance between tackling financial risks via deleveraging and maintaining steady economic growth.

The data here suggests that China is still seen keeping pace with deleveraging efforts despite some concerns surrounding the domestic economy.

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