China March M2 money supply +8.6% vs +8.2% y/y expected

Author: Justin Low | Category: News

Latest Chinese credit data for January has been released - 12 April 2019

China M2
  • Prior +8.0%
  • New yuan loans ¥1,690.0 bn vs ¥1,200.0 bn expected
Broad money growth begins to creep higher again and that is possibly a sign that China is easing up on deleveraging measures in order to provide more support for the economy. Of note, end-March yuan lending is seen at +13.7% y/y which is the strongest reading since June 2016. Essentially, this points to China scaling back on deleveraging efforts in an attempt to bolster the domestic economy further.

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