Latest Chinese credit data for July has been released - 11 September 2020
- Prior +10.7%
- New yuan loans ¥1,280.0 bn vs ¥1,250.0 bn expected
- Aggregate financing ¥3,580.0 bn vs ¥2,585.0 bn expected
Broad money growth is seen easing a little more as China continues to try and strike a balance between healthy credit growth and not going too easy on deleveraging efforts.
But credit financing continues to pick up (the end-August outstanding social aggregate financing is up 13.3% on the year) and that shows that they are still very much keeping the focus on bolstering economic conditions at the moment.
