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MNI BRIEF: China End-Aug M2 Slows To 3-Month Low

(MNI) LONDON
BEIJING (MNI)

China's M2 money supply growth slowed to 8.2% y/y in August, a three-month low, data released by the People's Bank of China on Friday showed, decelerating from July's 8.3% y/y, missing the median forecast of 8.4% growth. Among the key metrics, M1 growth slowed to 4.2% y/y from the previous 4.9% gain, while M0 rose 6.3% y/y, quickening from the 6.1% gain in July. Aggregate financing more than doubled to CNY2.96 trillion from the previous CNY1.06 trillion, beating the median forecast of CNY2.8 trillion. On an annual basis, it grew 10.3%, slower than the 10.7% growth last month.

New loans also doubled to CNY2.12 trillion from July's CNY1.08 trillion, outshining the median forecast of CNY1.4 trillion. Shadow banking transactions fell by CNY105.8 billion, compared to the reduction of CNY403.8 billion in July. Among which, entrusted loans and undiscounted bankers' acceptances rose CNY17.7 billion and CNY12.7 billion, respectively, while trust loans fell by CNY136.2 billion.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
DataPolicy NewsStoryAPACData BriefData StoriesBriefChina Market NewsRegion
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