Latest Chinese credit data for October has been released - 11 November 2020
- Prior +10.9%
- New yuan loans ¥689.8 bn vs ¥775.0 bn expected
- Aggregate financing ¥1,420.0 bn vs ¥1,400.0 bn expected
Broad money growth eases a little as we get into Q4 but remains at an elevated level with credit financing also still keeping more expansive (end-October social aggregate financing is up 13.7% on the year).
That hints that Chinese authorities are still looking to maintain a healthy dose of liquidity/credit in the financial system, in efforts to bolster the economic recovery process.
