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Market News Topics
October 17, 2018 11:22 GMT
MNI 5 THINGS: China TSF Hits 8-month High in September
BEIJING (MNI) - The following are the key points from China's September
money supply and credit growth data, released by the People's Bank of China on
Wednesday:
- Total social financing (TSF), a broad measure of credit and liquidity in
the economy, rose to an eight-month high of CNY2.21 trillion in September, much
higher than the MNI median projection of CNY1.38 trillion and up from CNY1.52
trillion in August. The sharp increase is mainly due to a change in calculation
method - as of September, local government bonds are now included in the TSF
calculation.
- Corporate bonds saw a dramatic slump in September, plunging to CNY8.7
billion from CNY337.6 billion in August, due to a higher number of bond defaults
and lower risk appetite among banks.
- Shadow banking finance contracted at a faster pace in September, as
regulators continue to tighten their grip. Trust loans, entrusted loans and
undiscounted bankers' acceptances together decreased by CNY289.0 billion,
following a decline of CNY267.4 billion in August. Within this total however,
there was a slowdown in the contraction of bankers' acceptances, which decreased
by CNY54.6 billion in September after a drop of CNY77.9 billion in August
- New loans increased CNY1.38 trillion in September, beating the MNI
analyst survey median forecast of CNY1.3 trillion and rising from August's
CNY1.28 trillion gain.
- M2 grew by 8.3% y/y in September, registering in line with the MNI survey
median and accelerating slightly from August's 8.2% y/y, indicating a marginal
expansion of liquidity. M1 growth also inched higher, rising to 4.0% y/y in
September from 3.9% y/y in August.
--MNI Beijing Bureau; +86 (10) 8532 5998; email: marissa.wang@marketnews.com
--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com
--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email: flora.guo@marketnews.com
--MNI London Bureau; +44 207-862-7489; email: ukeditorial@marketnews.com
[TOPICS: MAQDS$,MAUDS$,M$A$$$,M$Q$$$,M$U$$$]
To read the full story
Close
Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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