Chinese lending data out from the PBOC 14 June

  • new yuan loans 1.11trln yuan vs 900bln yuan
  • end-May yuan lending 12.9% yy vs 12.8% exp
  • end-May forex depos $779bln vs $777.5bln end-April

PBOC says:

  • bank lending generally normal in May
  • slowdown in M2 growth reflects deleveraging in finance sector

Ho hum.

PBOC reporting a slowdown in lending in May