Data on the way later today (not certain but today is likely) from China Banking and Insurance Regulatory Commission

January data:

  • Total aggregate financing: expected is 3307bn, prior was 1589.8bn
  • July new yuan loans, expected 3000bn, prior was 1080n
  • Money supply M0 y/y: expected 10%, prior was 3.6%
  • Money supply M1 y/y: expected 1.9%, prior was 1.5%
  • Money supply M2 y/y: expected 8.2%, prior was 8.1%

China's credit supply follows a usual seasonal pattern, hence to the jumps expected for

January

  • new yuan loans expected at 3,000bn RMB would be the biggest ever monthly result, due to PBOC directed liquidity easing measures from the central bank