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     BEIJING (MNI) - China's credit financing activities slowed more than market
expectations in October. Here are the takeaways from data released on Monday by
the People's Bank of China (PBOC):
     - Aggregate financing to the economy fell to CNY618.9 billion from CNY2.27
trillion in September, the lowest since July 2016. The market consensus expected
CNY950 billion.
     - M2 rose 8.4% y/y last month, flat from gain in September, in line with
market consensus. 
     - New loans totalled CNY661.3 billion versus CNY800 billion projection and
down from September's eight-month high CNY1.69 trillion.
     - Shadow finance shrank CNY234.4 billion, more than double CNY112.2 billion
reduction in September. Entrusted loans, trust loans and undiscounted bankers'
acceptances declined CNY66.7 billion, CNY62.4 billion and CNY105.3 billion,
respectively.
--MNI Beijing Bureau; +86 (10) 8532-5998; email: wanxia.lin@marketnews.com
--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com
[TOPICS: MAQDS$,MAUDR$,MAUDS$,M$A$$$,M$Q$$$,M$U$$$]