Latest Chinese data on money supply and loans growth released - 13 April 2018
- New yuan loans CNY 1,120.0 bn vs CNY 1,175.5 bn expected
- Aggregate financing CNY 1,330 bn vs CNY 1,800 bn
- Outstanding loan growth +10.5% y/y
Continued decline in the M2 growth, highlighting the deceleration in credit growth overall by China as it steps up its efforts to cut down on financial risks.
Expect further tightening in this area as Xi Jinping makes it a top priority to reduce financial risks in the economy.
