• Prior +8.5%
  • New yuan loans ¥1.13 trillion vs ¥1.25 trillion expected
  • Prior ¥1.27 trillion

If it isn't clear that China is still doing what it takes to bolster the economy, this report at least underscores that. Broad money growth remains elevated and new yuan loans for the course of 2021 hit a record high of ¥19.95 trillion in total. Yes, China is also working on deleveraging efforts but they are surely not sacrificing the economy entirely.