The People's Bank of China (PBOC) has released its quarterly report, emphasizing a continuation of its flexible, targeted, and appropriate monetary policy. The report highlights expectations for a mild increase in the Consumer Price Index (CPI) by year-end, with an actual CPI increase of 0.3% year-on-year. It also notes a narrowing contraction in the Producer Price Index (PPI), with a monthly decrease of 0.2% and a year-on-year decline of 2.5%. The central bank has identified a lack of demand in the real economy as the fundamental reason for current low prices, attributing it to an imbalance between supply and demand rather than insufficient money supply. Additionally, the PBOC plans to increase support for the real economy and maintain price stability, including guarding against risks of yuan overshooting.
⚠️ JUST IN: *CHINA CREDIT SHRINKS FOR FIRST TIME EVER IN APRIL AS LOAN GROWTH DISAPPOINTS 🇨🇳🇨🇳 https://t.co/yoT5WIQ5fl
🇨🇳 #CHINA APRIL M2 MONEY SUPPLY RISES 7.2% Y/Y; EST. 8.3% - BBG *CHINA APRIL M1 MONEY SUPPLY FALLS 1.4% Y/Y *CHINA APRIL M0 MONEY SUPPLY RISES 10.8% Y/Y
1/2 Total social financing declined by 200 billion in April, the first monthly decline in perhaps 20 years. April is always a weak month, and this decline may be for technical reasons and so quickly reversed in May and April. https://t.co/32RnUaaO5L
Xinhua: "China exported a total of 504,000 automobiles in April, marking a significant year-on-year growth of 34 percent. The cumulative export figures for the first four months of the year are equally impressive. With a total of 1.827 million units exported, the auto industry…
China’s new social financing decreased by nearly 200 billion yuan in April, 1st time in nearly 20 years. The last time when this measure decreased was in October 2005, when the Shanghai Composite was still at 1,000. It was a historic turning point for the Chinese stock market.… https://t.co/y6NpejCqMN
China’s new social financing decreased by nearly 200 billion yuan in April, 1st time in nearly 20 years. The last time when this metric decreased was in October 2005, when the Shanghai Composite was still at 1,000. It was a historic turning point for the Chinese stock market.… https://t.co/INkWKtR4zu
China Total TSF first contraction since 2005. Loans to the Private Sector in China logged a negative reading of CNY 200 billion in April 2024, the first contraction since January 2002, compared with CNY 4.87 trillion in March. https://t.co/PEOCy8LCEb
CHINA APRIL M0 MONEY SUPPLY RISES 10.8% Y/Y
CHINA APRIL M1 MONEY SUPPLY FALLS 1.4% Y/Y
China’s credit unexpectedly shrank in April, reflecting weak borrowing demand as the central bank refrained from easing monetary policy https://t.co/7r1qVS0u6d
China April credit data: TSF turned negative for the first time since Oct. 2005. M2 money supply +7.2% vs. 8.3% expected; M1 money supply -1.4% vs. +1.2% expected. I actually titled my April 23 CMW report “ The Coming Credit Collapse.” https://t.co/sr5AkkdPQG
CHINA'S APRIL NEW YUAN LOANS AT 730.0 BILLION YUAN, LOWER THAN EXPECTED (POLL: 800.0 BILLION YUAN)
CHINA'S APRIL TOTAL SOCIAL FINANCING FALLS SHORT OF EXPECTATIONS AT -200 BILLION YUAN (FROM A PREDICTED 1,000 BILLION YUAN)
CHINA'S NEW YUAN LOANS REACH 1019 TRILLION YUAN FROM JANUARY TO APRIL
#China April Money Supply: M2 money supply +7.2% y/y; Est. +8.3%; M1 money supply -1.4% y/y; Est. +1.2%; M0 money supply +10.8% y/y; Prev. +11.0%; Jan-April Aggregate financing 12.73 trillion yuan; New yuan loans 10.19 trillion yuan. $CNY #EconTwitter 🇨🇳
CHINA'S END-APRIL YUAN LENDING SEES 9.6% YEAR ON YEAR GROWTH
CHINA'S APRIL M2 MONEY SUPPLY RISES 7.2% YEAR ON YEAR, BELOW POLL FORECAST
CHINA'S APRIL M2 MONEY SUPPLY UP 7.2% YEAR ON YEAR
China exported a total of 504,000 #automobiles in April, bringing the cumulative export figures for the first four months of 2024 to 1.827 million units, representing a growth of 34% YoY and 33.4% YoY, respectively, official data showed Saturday. https://t.co/7Lms0Avv2J
🇨🇳 #China Consumer #Inflation Rises, Factory Price Drop Continues - Bloomberg https://t.co/V5KF35Tuil https://t.co/7GT29WWWIZ
CHINA SEES 32.3% YEAR ON YEAR INCREASE IN NEW ENERGY VEHICLE SALES FROM JANUARY TO APRIL: INDUSTRY ASSOCIATION
CHINA APRIL NEW ENERGY VEHICLE SALES UP 33.5% YEAR ON YEAR: INDUSTRY ASSOCIATION
CHINA JANUARY-APRIL VEHICLE SALES UP 10.2% YEAR ON YEAR, ACCORDING TO INDUSTRY ASSOCIATION
CHINA APRIL VEHICLE SALES UP 9.3% YEAR ON YEAR: INDUSTRY ASSOCIATION
GEELY AUTOMOBILE SELLS 153,267 VEHICLES IN APRIL, UP 39% YEAR ON YEAR.
China's producer price index, which measures costs for goods at the factory gate, went down 2.5 percent year on year in April https://t.co/jB2eFk8zXj https://t.co/RSpHOX90eN
CHINA APRIL PPI DOWN 2.5% YEAR ON YEAR, SLIGHTLY BELOW EXPECTED
CHINA'S APRIL PPI DECREASES 2.5% YEAR ON YEAR, MISSING POLL EXPECTATIONS OF -2.3%
CHINA'S APRIL PRODUCER PRICE INDEX (PPI) DOWN 0.2% MONTH ON MONTH
🔴 ⚠️ BREAKING: CHINESE CPI YOY ACTUAL 0.3% (FORECAST 0.2%, PREVIOUS 0.1%) $MACRO
🔴 CHINESE PPI YOY ACTUAL -2.5% (FORECAST -2.3%, PREVIOUS -2.8%) $MACRO
China central bank to keep prices stable, guard against yuan volatility https://t.co/KJb390ITbL
⚠️ CHINA'S CENBANK SAYS IT WILL KEEP PRICES STABLE, GUARD AGAINST YUAN OVERSHOOTING RISKS Full Story → https://t.co/3VAdF40HdG China's central bank said on Friday it will precisely and effectively implement its prudent monetary policy, maintain price stability and guard…
PBOC QUARTERLY REPORT: WE EXPECT A MILD INCREASE IN CPI BY THE END OF THE YEAR, NARROWING CONTRACTION IN PPI.
PBOC QUARTERLY REPORT: THE FUNDAMENTAL REASON FOR CURRENT LOW PRICES LIES IN THE LACK OF DEMAND IN THE REAL ECONOMY, IMBALANCE BETWEEN SUPPLY AND DEMAND, RATHER THAN IN AN INSUFFICIENT SUPPLY OF MONEY.
PBOC QUARTERLY REPORT: WE WILL STEP UP SUPPORT FOR THE REAL ECONOMY.
PBOC QUARTERLY REPORT: WE WILL KEEP THE PRICE AT A REASONABLE LEVEL.
PBOC QUARTERLY REPORT: MILD PRICE REBOUND IS AN IMPORTANT POLICY CONSIDERATION.
PBOC QUARTERLY REPORT: REITERATERS FLEXIBLE, APPROPRIATE, TARGETED MONETARY POLICY.