New yuan loans, aggregate financing, and money supply data hitting now, and yes, there will be new year distortions
January new yuan loans CNY 839.3bn
- expected 900bn, prior 2900 bn
Aggregate financing 1170bn
- expected 1066.5bn, prior 3060.3bn
Money supply M1 8.5%
- expected 11.0%, prior 15.0%
Money supply M2 8.8% y/y
- expected 8.7%, prior 8.6%
