Aggregate financing jumped , and new yuan loans hit a record

Both beat estimates

Data is here

Bloomberg have more:

  • China's broadest measure of new credit surged to a record as a seasonal lending binge coincided with a recovery in property prices, and as companies paid back foreign currency loans amid yuan weakness.
  • The strong figures were helped by banks front loading their 2016 lending targets, companies switching foreign currency loans into yuan ones, and strong corporate bond issuance. To be decided is whether the acceleration in lending will translate into a sustained pick up in economic growth.

Stocks have surged in China today, the Shanghai Comp is up 2.83% so far today.