FX.co ★ China sees slowest annual increase in money supply in October

According to the People’s Bank of China, China's M2 money supply grew by 8.8% from a year earlier in October 2017, below market expectations of a 9.2% rise. It is the slowest annual increase in money supply since January 1996.

The value of new yuan loans provided by the Chinese banks fell to 663.2 billion yuan ($99.8 billion) in October 2017, the lowest level since October 2016. Analysts had expected the value of 783 billion yuan. In September, Chinese banks extended 1.27 trillion yuan in new yuan loans.

China’s total social financing, which includes bond and equity issuance, trust loans and entrusted loans and off-balance sheet forms of financing, fell to 1.04 trillion yuan from 1.82 trillion yuan in September.