China May M2 money supply +11.1% vs +11.3% expected

Forex

Latest Chinese credit data for May has been released – 10 June 2020

China M2
  • Prior +11.1%
  • New yuan loans ¥1,480.0 bn vs ¥1,600.0 bn expected
  • Aggregate financing ¥3,190.0 bn vs ¥3,100.0 bn expected

Money supply growth is seen sticking at elevated levels as China dials back on deleveraging efforts in order to maintain a healthy supply of liquidity/credit in the economy, so as to maintain supportive measures in dealing with the virus fallout.

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