MNI China Daily Summary: Friday, December 13

MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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MNI DATA IMPACT: China Nov M2 Rose To 10.7%, Financing Up 50%

China's M2 money supply rose 10.7% y/y in November, accelerating from the 10.5% rise seen in October and outperforming analyst expectations of a 10.4% gain, data released by the People's Bank of China on Wednesday showed.

Among the key metrics, M1 growth picked up 10.0% y/y from the previous 9.1% gain, reflecting robust cash flow. M0 grew 10.3% y/y, slower than Oct's 10.4%.

Aggregate financing rose sharply to CNY2.13 trillion from Oct's CNY1.42 trillion. On an annual basis, it decelerated to 13.6% y/y from 13.7% in Oct.

LENDING

New loans rose to CNY1.43 trillion, more than doubling from the CNY689.8 billion in Oct, basically in line with the forecast CNY1.4 trillion.

Shadow banking transactions narrowed by CNY204.4 billion, compared to the CNY213.8 billion reduction in Oct. This is mainly driven by the contraction of entrusted loans, trust loans and undiscounted bankers' acceptances, which fell CNY3.1 billion, CNY138.7 billion and CNY62.6 billion, respectively.

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
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