China’s December lending and money supply growth exceeded economists’ estimates, reports Bloomberg, with new loans totalling 640.5bn yuan ($101bn) for the month. M2 rose 13.6 per cent, compared with the 12.9 per cent median of 18 estimates of economists surveyed by Bloomberg. People’s Bank of China governor Zhou Xiaochuan said on Sunday the nation must be ready to combat possible shocks from Europe’s debt crisis and an uncertain US economic outlook, echoing comments by Premier Wen Jiabao. Meanwhile the WSJ says a top-level financial policy meeting ended in Beijing on Sunday with little in the way of concrete announcements, and no mention of liberalisation of interest rates for bank depositors, which some analysts had been expecting.

This entry was posted by Kate Mackenzie on Monday, January 9th, 2012 at 5:35 and is featured in The 6am Cut London (9 Jan 2012), The Lunch Wrap (9 Jan 2012) . Tagged with china, Chinese economy, M3, Money supply. Edit this entry.