China’s Credit Remains Subdued Despite PBOC’s Lending Push

  • Widening M1, M2 growth gap points to muted business activity
  • Companies held off debt issuance amid a selloff in bond market
Lock
This article is for subscribers only.

China’s credit expanded at a slightly slower pace than expected in November after plunging in the previous month, despite efforts by the central bank to boost lending and ease restrictions on property loans.

Aggregate financing, a broad measure of credit, was 2 trillion yuan ($287 billion) last month, the People’s Bank of China said Monday, marginally below the median estimate of 2.1 trillion yuan in a Bloomberg survey of economists.