Money and credit growth is slowing signs of economic decline month by month
⊙ reporter Tony Yan Bi
central bank data released on the 11th, 6 months, new loans 603.4 billion yuan, up by 927 billion yuan less. In the first half the size of new loans totaling 4.63 trillion yuan, up by 2.74 trillion yuan less. 6 At the end of the broad money supply M2 growth rate dropped to 18.5% for 17 months, lowest level since more than 17% of the beginning of the objectives set only 1.5 percentage points; M1 fell to 24.6% for the 12 months since minimum value.
data show that in the first half down month by month trend of money supply and credit growth significantly, increasing both the scale to achieve better control of the early goals and pace.
new loans in the first half of the year plans to add about 7.5 trillion yuan to 61.73 percent the amount is slightly over 4.5 trillion in running the original program.
from the new credit structure, to the personal home-based long-term mortgage loans reached 1.21 trillion yuan loans, not current "violence reduction."
non-financial enterprises and other sector loans in the first half totaled 2.9 trillion yuan, accounting for 60% of medium and long term loans. This shows that there is a large part of the project financing platform for the Government released the follow-up loans.
It is noteworthy that non-financial enterprises and other sectors of the short-term loans, at 6 at the end there are more abnormal changes. Since March, enterprises have little incremental short-term loans, in June increased by 152.8 billion yuan suddenly while the bill financing fell 112.8 billion yuan.
the current monetary and credit growth down to a certain extent on the release of people worried about the economy overheating, while economic growth may decline exposed the new signs.
this year, M1 growth fell significantly, a few months, M1-year growth rate down from 30% to the current 24%. Experts believe that, M1 growth rate of the rapid drop in activity reflects the enterprises in the weaken and atrophy. In particular, in June M2, M1 between the "inverted scissors" to 6.1, further down the previous month, indicating that degree of economic activity may be reduced. See related reports 2nd Edition
