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MNI BRIEF: China Sep New Loans, Total Finance At 3-Month High

MNI (Singapore)

China's M2 money supply growth eased slightly to 12.1% y/y in September from 12.2% in August, meeting market forecasts, People's Bank of China data showed on Tuesday.

M1 growth rose to 6.4% y/y, accelerating from the previous 6.1%.

New loans almost doubled to CNY2.47 from August's CNY1.25 trillion, hitting a three-month high and surpassing a forecast for CNY1.8 trillion. Aggregate financing quickened to CNY3.53 trillion, up from the previous 2.43 trillion, also hitting a three-month high and beating expectations for CNY2.75 trillion. On an annual basis, outstanding total social finance grew by 10.6%, compared with 10.5% last month.

Shadow banking transactions rose by CNY385.9 billion, compared to an expansion of CNY476.8 billion in August.

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