Outstanding CNY Loans Increase CNY 703.9 Bn in Aug

Source: People's Bank of China, ChinaScope Financial (Data)

+       Data released by the Central Bank on September 11 shows total social financing in the January-August period was CNY 10.07 trillion, up CNY 691.5 billion year-on-year. In August, total social financing was CNY 1.24 trillion, up CNY 188.5 billion month-on-month, or CNY 166.6 billion year-on-year.

+       In August, outstanding CNY loans increased CNY 703.9 billion, CNY 155.5 billion higher than in August 2011; outstanding foreign currency loans increased CNY 74.3 billion, up CNY 36.7 billion year-on-year. Although entrusted loans expanded by CNY 104.6 billion, its growth was CNY 36.3 billion lower year-on-year. Trust loans, on the other hand, increased CNY 118 billion, up CNY 100.4 billion year-on-year.

Total social financing in August was up CNY 188.5 billion on the previous month, mainly driven by rises in trust and CNY loans, providing a nascent sign that effort to stimulate China’s economy is being intensified.

If you'd like to receive a daily e-mail update of ChinaScope Daily Dim Sum Newsletter, please contact us:newsletter@chinascopefinancial.com. If you'd like to try out ChinaScope Database, apply for a trial here