Macro Data – China August Money Supply & Credit10th September, 2021 11:47 am
Another relatively solid month on the credit side. China’s August new yuan loans came in at CNY1.22trn vs. the CNY1.3trn median forecast but total social financing hit CNY2.96trn (mkt 2.75trn) amid a rebound in corporate bond issuance and solid local government financing numbers. Money supply meanwhile looks soft, M2 at 8.1% (mkt 8.4%) and M1 slowing to 4.2%, the weakest reading since February last year.
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