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MNI DATA IMPACT: China December M2 Growth At Near 2-Year High

MNI (London)
     BEIJING (MNI) - China's money supply and aggregate financing to the economy
all outpaced market consensus expectations in December, data released Thursday
by the People's Bank of China showed. 
     Here are some quick points of note: 
     - M2 rose 8.7% y/y, the highest since February 2018's 8.8%, beating both
the 8.3% forecast by most economists and November's 8.2%. 
     - Total social financing surged CNY2.1 trillion, compared with 1.75
trillion in November, beating market consensus expectations of a CNY1.67
trillion gain.
     - New loans totalled CNY1.14 trillion, less than the projected CNY1.2
trillion and November's CNY1.39 trillion.
     - Shadow banking transactions shrank by CNY145.9 billion, compared to
November's decline of CNY106.1 billion. Entrusted and trust loans shrank by
CNY131.6 billion and CNY109.2 billion respectively, while undiscounted bankers'
acceptances expanded by CNY94.9 billion.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com
--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com
[TOPICS: MAQDS$,MAUDR$,MAUDS$,M$A$$$,M$Q$$$,M$U$$$]
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com

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