Latest Chinese credit data for April has been released - 11 May 2020
- Prior +10.1%
- New yuan loans ¥1,700.0 bn vs ¥1,300.0 bn expected
- Aggregate financing ¥3,090.0 bn vs ¥2,775.0 bn expected
Money supply growth continues to pick up as China is dialing back on deleveraging efforts in order to spur liquidity/credit in the economy when dealing with the economic fallout from the coronavirus outbreak. Expect this to continue for many more months as the global economic situation will stay rather subdued for the most part in 2H 2020.
