China Monetary Statistics for October 201212 November, 2012, 16:50. Posted by Zarathustra
People’s Bank of China published the latest monetary statistics for October.
M2 money supply rose 14.1% compared with a year ago, down from 14.8% yoy in September, and below market estimate. M2 money supply increased by 6.1%, down from 7.3% yoy in September, while M0 increased by 10.5% yoy.
Net new loans in Chinese Yuan amounted to RMB505.2 billion, missing estimate, as reported in the aggregate financing numbers. Net new lending to households for the month amounted to RMB145.6 billion, while net new lending to non-financial corporations amounted to RMB358.6 billion. Of RMB358.6 billion net new lending to non-financial corporations, RMB249.7 billion wwas short-term loans, RMB168.5 billion was medium- and long-term loans, while bill financing fell for the second consecutive month by RMB73.2 billion.
Meanwhile, Chinese Yuan total deposits fell RMB279.9 billion in October.
The monetary statistics for October came in weaker than expected. Even taking the aggregate financing report together, the only component which looks positive appears to be corporate bond issuance.
Source: People’s Bank of China