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MNI (London)
BEIJING (MNI)

China's M2 money supply growth slowed to 8.3% y/y in July, decelerating from June's 8.6% y/y and missing the median forecast of 8.8% growth, data released by the People's Bank of China Wednesday showed, .

Among the key metrics, M1 growth slowed to 4.9% y/y from the previous 5.5% gain, while M0 rose 6.1% y/y, also slowing from the 6.2% gain in June. Aggregate financing declined to CNY1.06 trillion from the previous CNY3.67 trillion, recording the lowest in one year and a half while missing the median forecast of CNY1.62 trillion. On an annual basis, it grew 10.7%, slower than the 11.0% growth last month.

New loans halved to CNY1.08 trillion from June's CNY2.12 trillion, registering the lowest since October 2020 and underperforming the median forecast of CNY1.2 trillion. Shadow banking transactions reduced by CNY403.8 billion, compared to the reduction of CNY211.5 billion in June. Among which, entrusted loans, trust loans and undiscounted bankers' acceptances fell CNY15.1 billion, CNY157.1 billion and CNY231.6 billion, respectively.

MNI London Bureau | +44 203-586-2225 | les.commons@marketnews.com
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