China's credit growth remains weak, with aggregate social financing reaching 8.06 trillion yuan in Q1, down 1.1 trillion from last year.
China's credit growth remains weak at the start of the year, providing more space for monetary policy support. Aggregate social financing reached 8.06 trillion yuan in the first two months of the year, down by 1.1 trillion compared to the previous year. New yuan loans, issued by banks in China, totaled 6.37 trillion yuan in the first two months, down from the same period in 2023. Experts suggest that the key problem is demand in the real economy, which cannot be solved just by monetary policy.
March 15, 2024
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