MNI DATA BRIEF: China End-Jun M2 Quickens, New Loans 3-Mo High

China's M2 money supply growth quickened to 8.6% y/y in June, up from 8.3% y/y in the previous month and hitting a three-month high, according to data released by the People's Bank of China Friday, beating the median forecast of 8.2% growth.

Among the key metrics, M1 growth slowed to 5.5% y/y from a previous 6.1% gain, while M0 rose 6.2% y/y, quickening from the 5.6% gain in May. Aggregate financing rebounded to a three-month high of CNY3.67 trillion from the previous CNY1.92 trillion, beating the median forecast of CNY2.89 trillion. On an annual basis, it grew 11.0%, the same as last month.

New loans edged up to CNY2.12 trillion, up from May's CNY1.5 trillion, exceeding the median forecast of CNY1.85 trillion and registering a three-month high. Shadow banking transactions reduced by CNY211.5 billion, compared to the reduction of CNY262.9 billion in May. Among which, entrusted loans and trust loans fell CNY52.4 billion and CNY461.6 billion, respectively. While undiscounted bankers' acceptances rose CNY302.5 billion.