China February M2 money supply +12.9% vs +12.5% y/y expected

• Prior +12.6%
• New yuan loans ¥1.8 trillion vs ¥1.5 trillion expected
• Prior ¥4.9 trillion

Money supply growth continues to expand with new yuan loans also seen at a hefty level for the month, reaffirming that China is taking steps to bolster credit conditions and propping up the economy.