China's credit growth and money supply were accelerating at a faster than anticipated pace in June, reflecting Beijing's efforts to stimulate the economy and hit its 7.5 per cent growth target.
Aggregate financing, the broadest measure of Chinese credit available (including "shadow banking"), expanded by 41 per cent from a month earlier, far exceeding expectations and hitting its highest since March.
Aggregate financing totalled Rmb1.97tn ($320bn) in June, versus Rmb1.40tn in May. Economists were only estimating a small gain to Rmb1.43tn.
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