A nice surprise: China's credit data soars high

Total new Yuan loan grew CNY2.46tn in the first quarter, up from CNY2.26tn in Q1 2011.

This completely reverses weak credit picture in the first two months, suggesting that capital inflows in March may not be as weak as expected.

Here's more from OCBC Treasury Research:

China released surprisingly strong credit data yesterday. Chinese banks extended CNY1tn new Yuan loan in March beating market expectation of CNY800bn.

Total New Yuan loan grew CNY2.46tn in the first quarter, up from CNY2.26tn in Q1 2011, completely reversing weak credit picture in the first two months thanks to removal of certain restrictions on local government debt rollover.

Meanwhile, China’s foreign exchange reserves rose further to US$3.3tn at end of Q1, up from US$3.2tn in spite of weak capital inflows. This suggests capital inflows in March may not be as weak as expected previously. As a result, China’s M2 growth rebounded to 13.4% yoy from 12.9% yoy in February. The stronger than expected credit may pose today’s China Q1 GPD to upside surprise.

Also Read

Economy Lorem Ipsum

Mixed views on MAS policy for 1H25 as Singapore faces inflation and growth risks

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

Vibrant Group wins suit against Blackgold Australia

The group shall be paid damages and fees by Blackgold Australia’s ex-CEO and ex-chairman.

Lorem Ipsum text in year 2025

Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old.

Agribusiness

Lorem Ipsum is simply dummy text of the printing and typesetting industry.

Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old. Richard McClintock, a Latin professor at Hampden-Sydney College in Virginia, looked up one of the more obscure Latin words, consectetur, from a Lorem Ipsum passage, and going through the cites of the word in classical literature, discovered the undoubtable source. Lorem Ipsum comes from sections 1.10.32 and 1.10.33 of "de Finibus Bonorum et Malorum" (The Extremes of Good and Evil) by Cicero, written in 45 BC. This book is a treatise on the theory of ethics, very popular during the Renaissance. The first line of Lorem Ipsum, "Lorem ipsum dolor sit amet..", comes from a line in section 1.10.32.

Agribusiness

Secondhand furniture gains traction as Singaporeans embrace circular economy practices