M2 Accelerates As Loans Increase - Securities Daily

M2 money supply growth quickened in November due to stable economic growth, an acceleration of credit delivery to the real economy, and a decrease in fiscal deposits of 368.1 billion yuan, according to the Securities Daily. The balance of broad money (M2) increased by 12.4% year-on-year in November. Commercial banks continued to increase medium to long term loans as measures to support the real estate sector helped increase confidence, and the issuance of special bonds accelerated in October. With more growth policies ahead, authorities need to continue to promote credit expansion into key areas such as infrastructure, manufacturing and real estate, to help the economy grow at a reasonable level, the newspaper said.