China Credit gets a boost from bond sales, but loan growth is slowing

(Bloomberg) — China’s credit growth got a boost from higher government bond sales in May, but lending slowed again, a sign of weakening demand.

Total financing stock – a broad measure of lending – grew 8.4% from a year ago, slightly above April’s figure. The acceleration was largely due to a rise in government borrowing, with 1.2 trillion yuan ($165 billion) of bonds issued during the month. But outstanding loans grew by 8.9%, the slowest on record, and the broad M2 measure of money supply growth also weakened.





 

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