China June M2 money supply +6.2% vs +6.8% y/y expected

  • Latest Chinese credit data for June 2024 has been released
  • Prior +7.0%
  • New yuan loans ¥2.13 trillion
  • Prior ¥950.0 billion

The jump is new yuan loans barely misses the estimate of ¥2.25 trillion but is a strong rebound to the month before. That reaffirms that Beijing is still trying to improve credit conditions in bolstering the economy this year.

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