Latest Chinese credit data for January has been released - 9 February 2021
- Prior +10.1%
- New yuan loans ¥3,580.0 bn vs ¥3,500.0 bn expected
- Aggregate financing ¥5,170.0 bn vs ¥4,600.0 bn expected
Broad money growth eases to start the year but is still relatively elevated as China looks to ensure sufficient credit and liquidity ahead of the Lunar New Year holidays.
In the bigger picture, local authorities are still trying to strike a fine balance in keeping a healthy supply of credit while keeping up deleveraging efforts.
