Latest Chinese data on money supply and loans growth released - 13 July 2018
- Prior +8.3%
- New yuan loans CNY 1,840.0 bn vs CNY 1,535.0 bn expected
- Aggregate financing CNY 1,180.0 bn vs CNY 1,400.0 bn expected
Another month, another fall in the M2 supply. Continues to highlight the tightening credit conditions in the Chinese economy and the fact that officials are not taking their foot off the pedal when it comes to deleveraging and cracking down on financial risks.
A continued trend lower towards the end of the year may spark some concerns on a little slowdown in economic growth though, but we'll get to it when it happens.
