China May M2 money supply +7.9% vs +8.1% y/y expected

  • Latest Chinese credit data for May 2025 has been released
  • Prior +8.0%
  • New yuan loans ¥620.0 billion vs ¥850.0 billion expected
  • Prior ¥280.0 billion

New bank loans in China continue to moderate after the surge in Q1, which was largely due to policymakers ramping up stimulus in anticipation of a trade war with the US.

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