PBOC: China April M2 money supply misses expectations

The latest Chinese data published by the PBOC in the last hour showed that the country’s credit growth data missed expectations, highlighting lack of demand.

Key Points:

China M2 money supply April yy +12.8% vs 13.5% exp (+1.34% prior)

New yuan loans +555bln vs +900bln exp vs 1370 bln prev +14.4% yy

End-April FX deposits +$666.8 bln vs +$666.0 bln prev
Total social financing was up +13.1% yy