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
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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.