Chinese Lending Activity In August Was Much Higher Than Expected

People’s Bank of China published the “aggregate financing” statistics, which is not the normal monetary statistics, which would normally include breakdowns of loans, deposits, as well as money supply.

The only piece of vital information we see in this “aggregate financing” statistics which we usually see in the normal monetary statistics is the new loans.  Net new loans increased from RMB540.1 to RMB703.9 billion, well above consensus of RMB600 billion.

With this, there is very little that we can say because we do not have the breakdown, except that it is above market expectation. 

chinese loans

Photo: Also Sprach Analyst

Source: People’s Bank of China

This article originally appeared here: China’s net new loans for August amounted to RMB703.9 billion
Also sprach Analyst – World & China Economy, Global Finance, Real Estate

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