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--New Loan Issuance, Total Social Financing Well Above Expectations
BEIJING (MNI) - The People's Bank of China announced on Monday its latest
money supply and bank lending data.
November new loan issuance totaled CNY1.12 trillion, almost double the
CNY663.2 billion in new lending in October and also well above the MNI survey
median expectations for a CNY800 billion gain.
Total social financing -- a gauge of overall credit and liquidity -- rose
to CNY1.6 trillion in November, much higher than the MNI median forecast of
CNY1.29 trillion and half again higher then the CNY1.04 trillion rise in
M2 money supply rose 9.1% year-on-year to CNY167.00 trillion. The growth
accelerating from 8.8% growth in October and was stronger than the MNI survey
median of 8.9%
M1 money supply rose 12.7% year-on-year to CNY53.56 trillion, compared with
13.0% growth in October. M0 rose 5.7% year-on-year to CNY6.86 trillion, compared
with a 6.3% increase in October.
Outstanding yuan loans stood at CNY119.55 trillion at the end of November,
13.3% higher than the year-earlier period, compared with a 13% increase in
October. Outstanding yuan deposits grew 9.6% year-on-year to CNY164.9 trillion,
compared with 9.1% growth in October.
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