China's June Credit, Finance Data Seen Higher-Journal

The scale of new yuan loans and aggregate finance in June may be higher than the levels of May and a year earlier as financing demand improved with the economy recovering, the China Securities Journal reported on the front page on Monday. June new loans may exceed May’s CNY1.89 trillion and last June’s CNY2.12 trillion, as June is traditionally a big month for new loans. A pickup in home sales in 30 major cities and auto consumption would help drive certain credit demand, the newspaper said citing analysts. Aggregate finance may be significantly higher than May’s CNY2.79 trillion and last June’s CNY3.67 trillion mainly due to the accelerated issuance of local government bonds, the Journal said citing analysts. M2 would maintain rapid double-digit growth in June, the newspaper said. China is set to release its June financial data this week.