2014-02-21

China Money Supply Update

This is certainly good news if the economy keep chugging along: China PBOC Drains More Thursday, Removes CNY108 Bln This Week
For the whole week, the PBOC removed a net CNY108 billion out of the banking system, compared with last week's drain of CNY450 billion.

The increase in the repo transactions was expected by the market because money rates fell further despite the central bank resuming repos on Tuesday, suggesting current liquidity conditions remain ultra loose.

Here's a look at M1 and M2, and also the YoY changes in both relative to the Shanghai Composite.

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