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.