City skyline in China

China Money September 2020

China: Credit conditions improve in September

In September, Chinese banks distributed CNY 1.90 trillion (USD 282 billion) in new yuan loans. The reading came in above both the CNY 1.28 trillion recorded in August and the CNY 1.70 trillion that market analysts had expected. In the 12 months up to September, new yuan loans totaled CNY 19.5 trillion (12 months to August: CNY 19.2 trillion).

Total social financing (TSF)—a broader measure of credit and liquidity in the economy that includes loans, bonds and other non-traditional instruments—was broadly stable at CNY 3.48 trillion in September from CNY 3.58 trillion in August. Market analysts had expected a sizeable decrease in TSF to CNY 3.00 trillion.

Annual growth in M2—the broadest measure of money supply in China—jumped from August’s 10.4% to 10.9% in September. The result was above the 10.4% increase that market analysts had expected.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest