Latest Chinese credit data for July has been released - 11 August 2020
- Prior +11.1%
- New yuan loans ¥992.7 bn vs ¥1,200.0 bn expected
- Aggregate financing ¥1,690.0 bn vs ¥1,850.0 bn expected
Broad money growth eases a little compared to estimates and the previous level seen in June - relative to a year ago - but it is tough to read much into this unless there is a more sustained trend. For now, China is still continuing with the same narrative to allow further credit growth in order to bolster the economy in recovering from the virus crisis.
