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MNI (London)
     BEIJING (MNI) - China's M2 expanded 8.5% y/y in April, slowing from 8.6% in
March, but in line with the MNI survey median forecast.
     Here are the key points from the money supply, bank loans and total social
financing data released by the People's Bank of China on Thursday:
     --New loans totalled CNY1.02 trillion, less than CNY1.2 trillion projected
by MNI. The gain was the third-highest this year following a record CNY3.23
trillion in January and CNY1.69 trillion in March.
     --Aggregate financing to the economy rose CNY1.36 trillion, missing the
CNY1.7 trillion projected in an MNI survey. It was also the third-fastest growth
this year, following January's record CNY4.64 trillion and March's CNY2.86
     --Shadow banking finance contracted CNY142.7 billion in April, reversing
the CNY82.39 billion gain in March. Within this category, trust loans increased
CNY12.9 billion, while entrusted loans and undiscounted bankers' acceptances
together declined CNY155.6 billion.
     --Corporate bond issuance continued to accelerate, up to CNY357.4 billion
from CNY327.6 billion in March, underlying the central bank's effort to promote
bond issuances.
--MNI Beijing Bureau; +86 (10) 8532-5998; email:
--MNI London Bureau; tel: +44 203-586-2225; email:
MNI London Bureau | +44 203-865-3812 |