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11th Feb 2022 00:00China+, Daily Monitor, Asia Key Issues

  • Record weakness in Chinese M1 growth is only partly attributable to seasonal and base effects...
  • ...Weaker risk appetite, and softer economic activity, underlie the drop in liquid deposits.
  • Credit growth continued to become more heavily dominated by the state in January.

activity bond bond issuance budget cash china chinese credit credit data credit growth debt demand energy funds government governments growth it liquidity loan local governments m1 m1 growth money supply pboc policy private sector remain rmb sector sentiment special bond spending supply wages

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Keywords for: The State Sector Doubles Down as Risk Appetite Dwindles

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