China Credit Growth Tops Forecasts as PBOC Watches Easing Impact

China’s credit expansion accelerated more than expected in June, helped by a seasonal boost in loan extension as well as heavy government bond issuance.

Aggregate financing, a broad measure of credit, increased 4.2 trillion yuan ($585.7 billion) in June, according to Bloomberg calculations based on data released by the People’s Bank of China on Monday. That compares with a median estimate of 3.8 trillion yuan by economists in a Bloomberg survey. Financial institutions offered 2.2 trillion yuan of new loans in the month, also more than forecast.