MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

MNI BRIEF: SNB Framework Reform 'Playing With Fire' - Steiner

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1056 Fri; -4.56% Y/Y

MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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MNI BRIEF: China July New Loans Hit Near 14-Yr Low, TSF Slumps

MNI (Singapore)
MNI (Beijing)

China’s new loans and aggregate finance dipped more than expected in July, with M2 continuing to decelerate on a higher base comparison and weaker credit demand, the People's Bank of China data released Friday showed.

New loans grew CNY345.9 billion to hit the lowest level since November 2009, falling sharply from last month's CNY3.05 trillion increase and underperforming expectations of CNY780 billion. Total social financing grew by CNY528.2 billion to mark the lowest since July 2016, slumping from last month's CNY4.22 trillion, also missing the market consensus of CNY1.1 trillion. The outstanding TSF rose by 8.9% in July from the 9% growth registered in June.

M2 money supply slowed for the fifth consecutive month to 10.7% y/y, the lowest level since April 2022, compared to June's 11.3% and the 11% estimate. M1 increased 2.3% y/y, decelerating from June's 3.1%. Shadow banking transactions decreased by CNY172.4 billion compared to a CNY89.6 billion contraction the previous month.

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