> China April M2 money supply +12.4% vs +12.5% y/y expected

China April M2 money supply +12.4% vs +12.5% y/y expected

Latest Chinese credit data for April 2023 has been released

Thursday, 11/05/2023 | 08:06 GMT

Prior +12.7%
New yuan loans ¥718.8 billion vs ¥1.4 trillion expected
Prior ¥3.9 trillion

Broad money growth in China is easing slightly as financial conditions are seen to be tightening. And after the surge in new yuan loans in Q1 (which was a record ¥10.6 trillion), we are seeing a bit of moderation to kick start Q2.