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MNI China Daily Summary: Monday, November 11

DATA: China's M2 money supply growth quickened more than expected in October, as deposits increased thanks to the robust stock market following the Government-announced pro-growth policies, People's Bank of China (PBOC) data released Monday showed. Growth in M2 was 7.5% y/y, a seven-month high, up from September's 6.8% growth and beating the 7.0% forecast. Banks extended CNY500 billion in new loans in October, down from September's CNY1.59 trillion. Total social financing rose by CNY1.4 trillion, lower than growth of CNY3.76 trillion in September.

POLICY: China’s development index for small and medium-sized enterprises reached 89.0 points in October, up 0.3 points from September and the highest level since May this year, the China Association of Small and Medium-sized Enterprises said.

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DATA: China's M2 money supply growth quickened more than expected in October, as deposits increased thanks to the robust stock market following the Government-announced pro-growth policies, People's Bank of China (PBOC) data released Monday showed. Growth in M2 was 7.5% y/y, a seven-month high, up from September's 6.8% growth and beating the 7.0% forecast. Banks extended CNY500 billion in new loans in October, down from September's CNY1.59 trillion. Total social financing rose by CNY1.4 trillion, lower than growth of CNY3.76 trillion in September.

POLICY: China’s development index for small and medium-sized enterprises reached 89.0 points in October, up 0.3 points from September and the highest level since May this year, the China Association of Small and Medium-sized Enterprises said.

Keep reading...Show less