China Credit Growth Exceeds Estimates Despite Regulatory Curbs

China’s broadest measure of new credit exceeded estimates in April even as regulators push to clamp down on financial leverage and curb the nation’s debt pile.

Policy makers’ renewed focus on reining in risks and cutting financial leverage has yet to make a major dent in the nation’s surging credit demand. The Communist Party’s top 25-member politburo including President Xi Jinping gathered to discuss "safeguarding national financial-market security" last month, initiating a clampdown that has mainly focused on shadow banking and roiled stock and credit markets.