Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING
Opinion: No, China Isn’t Waiting Out Trump for a Better Trade Deal
Shanghai Paves the Road for Autonomous Vehicles
China’s Internet Safety Week Begins With Alarming Report on Data Privacy
LATEST
Electric Car Battery-Maker Farasis Seeks IPO Cash to Offset Sputtering Sales
Foxconn Founder Terry Gou Abandons Taiwan Leadership Bid
Shenzhen to Make All New Ride-Hailing Vehicles Fully Electric
Suning.com to Open More Than 200 In-Carrefour Stores by September
Experts: Huawei’s Offer to License 5G Technologies a ‘Smart PR Move’
Shanghai Paves the Road for Autonomous Vehicles
Provincial Party Chief Calls On Xiongan to Become Tech Powerhouse
What Tepid Reception? JD.com Notches Turbocharged iPhone 11 Preorders
China’s Internet Safety Week Begins With Alarming Report on Data Privacy
Opinion: No, China Isn’t Waiting Out Trump for a Better Trade Deal
In Depth: Is China’s Animation Industry Ready to Take Off?
Uber-Like Truck-Rental Startup Mulls IPO After Breaking Even
China Evergrande Plans to Build Electric Cars, Batteries in Qingdao
Terry Gou-Backed LCD Panel Plant Seeks Cash Injection
Self-Driving Taxi Industry to Hit Key Inflection Point Next Year, Insider Says
Video App Kuaishou Mulls U.S. IPO, Raises Funds at $25 Billion Valuation
London Stock Exchange Bid in the Works For Long Time: HKEx Chairwoman
Chinese Investors React Coolly to Signs of Easing Trade Tensions
Kweichow Moutai Toasts Long-Term Partnership With Chinese Genomics Giant
After Opening Gates to Outside Food, Disney Clarifies What Is and Isn’t Allowed
China’s Credit Growth Edges Up in May

By Timmy Shen / Jun 12, 2019 07:15 PM / Finance

Photo: VCG

Photo: VCG

China’s total social financing (TSF), a broad measure of credit and liquidity in the economy, grew by a net 1.4 trillion yuan ($202 billion) in May, slightly higher than a net increase of 1.36 trillion yuan the month before, central bank data showed Wednesday.

TSF includes financing that exists outside the conventional bank lending system like initial public offerings and bond sales.

In May, banks made 1.18 trillion yuan in net new yuan loans, up from 1.02 trillion yuan in the previous month, according to the data. Of the 1.18 trillion yuan, 56.1%, or 662.5 billion yuan, went to the household sector, up from April’s 51.5%.

China’s outstanding M2, a broader measure of the money supply that covers all cash in circulation plus deposits, grew 8.5% year-on-year at the end of May, unchanged from a month earlier, the data show.

“Credit growth remained broadly stable in May,” Franziska Palmas, an economist at research firm Capital Economics, said in a note. “Policy easing has not yet been effective in generating a sustained pick-up in credit growth and is one of the reasons why we don’t expect a strong recovery in economic growth in the coming months.”

Related: China’s Credit Growth Slows After March Surge

Share this article
Open WeChat and scan the QR code