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


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

  • Prior +8.5%
  • New yuan loans ¥1,180.0 bn vs ¥1,300.0 bn expected
  • Aggregate financing ¥1,400.0 bn vs ¥1,450.0 bn expected

Money supply growth continues to hover around a similar region for the past year or so now as China continues to tackle financial risks amid deleveraging efforts, whilst trying to maintain a steady economic growth. Trade tensions have certainly complicated things but it doesn’t look like China are scaling back all too much on deleveraging just yet.

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