Aggregate financing is in at 1360bn yuan in April

  • 1650bn was expected
  • prior 2859.3bn

New yuan loans are 1020bn yuan

  • against expected 1200bn, prior was 1690bn

Money supply M2 8.5% y/y

  • expected 8.5%, prior was 8.6%

There has been a lot said about a credit-fuelled China stimulus in Q1. If these first lot of figures for Q2 are anything to go by that might not the case in this quarter?