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MNI BRIEF: China New Loans, TSF Record High; M2 Over 2-Yr Low

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China new yuan loans and aggregate finance both hit record highs in January but money supply slowed more than expected to a more than two-year low, data released by the People's Bank of China showed Friday.

Banks extended CNY4.92 trillion in new yuan loans in January, outperforming the CNY4.5 trillion expectation and surging from December's CNY1.17 trillion. Total social financing rose by CNY6.5 trillion, jumping from CNY1.94 trillion, beating the market consensus of CNY5.6 trillion. Outstanding TSF rose by 9.5% by the end of January, unchanged from the end-December reading.

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China new yuan loans and aggregate finance both hit record highs in January but money supply slowed more than expected to a more than two-year low, data released by the People's Bank of China showed Friday.

Banks extended CNY4.92 trillion in new yuan loans in January, outperforming the CNY4.5 trillion expectation and surging from December's CNY1.17 trillion. Total social financing rose by CNY6.5 trillion, jumping from CNY1.94 trillion, beating the market consensus of CNY5.6 trillion. Outstanding TSF rose by 9.5% by the end of January, unchanged from the end-December reading.

Keep reading...Show less