China New Loan Issuance Slows Down In September; Rate Of Money Supply Growth Eases Further
(For September 2011)
The most broad measure of money supply – M2 rose 13.0% y-o-y in September vs. 14.0% consensus and 13.5% rise in August.
Chinese government is successful in reining down the monetary expansion in the official banking sector.
Chinese banks issued CNY 470 billion of new loans in September vs. CNY 549 billion in August and consensus of CNY 550 billion. New loan issuance first nine months this year is 9.6% lower than in first nine months 2010.
