China's New Social Financing Hit 3.36 Trillion Yuan in June, M2 Growth at 8%

China's new social financing reached 3.36 trillion yuan in June, with new yuan-denominated loans hitting 1.61 trillion yuan, according to official data. The M2 money supply grew 8% year-over-year during the period.

China's central bank signaled it will increase the frequency of overnight reverse repurchase operations to enhance cyclical and counter-cyclical policy adjustments, indicating loan deceleration and quality improvement may become a new norm in macroeconomic operations.

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