Free Trial

CBA Card Data Shows Elevated Spending Growth But Easing


NZGBS: Post-RBA Pressure


USD/CNH Eyeing Break Back Below 6.7800


A$ Rallies On More Hawkish RBA Outlook

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

MNI China Press Digest November 2: New Loans, PSL, Developers

MNI (Singapore)
MNI (Beijing)

The following lists highlights from Chinese press reports on Wednesday:

  • China’s new yuan loans and aggregate finance may see a seasonal decline in October after banks accelerated lending at the end of Q3 to meet regulatory requirement, thereby satisfying some of October's demand, the Securities Daily reported citing Wang Qing, chief analyst at Golden Credit Rating. Wang estimated new loans will reach CNY930 billion, compared to September’s CNY2.47 trillion, while aggregate finance may slow to CNY1.4 trillion from the previous CNY3.53 trillion, the newspaper said. New loan growth will continue to be supported by increased medium- and long-term corporate bonds amid government support for infrastructure and manufacturing investment, but weak spending remains a drag on mortgage and consumer loans, Wang was cited as saying. The central bank is set to release the latest financing data between November 11-15.
  • The People’s Bank of China’s Pledged Supplemental Lending (PSL) facility increased a net CNY154.3 billion in October, accelerating from September’s CNY108.2 billion, the 21st Century Business Herald reported. PSLs were provided to three policy banks to help boost lending in targeted areas, with the PBOC providing funds equal to 100% of the loan principal, the newspaper said. Some analysts believe the PSL was used to help property developers deliver unfinished projects or to fund infrastructure construction of underground pipeline and water conservation projects, the newspaper said.
  • Several private property developers including Longfor and Country Garden are promoting their second round of bond issuance with credit enhancement by China Bond Insurance Co Ltd, sending a positive signal about the stability of bond financing channels for private developers, the Securities Times reported. China Bond Insurance has promoted more than 10 credit enhancement to help developers raise CNY8.37 billion in bond sales, driving a total of CNY15.5 billion of debt financing, the newspaper said. This should encourage commercial banks and other financial institutions to restore loans and investments in private developers, the newspaper said.

To read the full story

Why Subscribe to

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.