China's new social financing in August was 3.03 trillion yuan, with new RMB loans of 900 billion yuan, and the year-on-year decrease in M1 widened to 7.3%.
Supported by government crediting, the amount of new renminbi loans and new social financing in China in August both rebounded significantly. The financial 'squeeze water effect' continued, M1 money supply continued to decline, and the negative scissors gap of M1-M2 growth rate further widened.
China's new social financing in the first eight months of the year was 21.9 trillion yuan, with M2 growing 6.3% year-on-year in August.
① RMB loans increased by 14.43 trillion yuan in the first eight months. ② RMB deposits increased by 12.88 trillion yuan in the first eight months.
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