New Loan Estimate for May: 850 Billion Yuan

Individual credit is expected to remain hot, but overall credit growth will remain subdued according to estimates (which haven't been too accurate of late) as the Q1 hangover continues.

Ping An SecuritiesHe said the monthly credit supply contraction should not be read too much, it does not represent a shift of monetary policy. From the monthly data, volatility and infrastructure projects to serve local government debt will remain on the replacement schedule monthly data forming disturbances. Taking into account the May delivery infrastructure and local bonds may rebound replaced the negative impact of the weakening is expected to scale new credit will be 800 billion yuan to 900 billion.

iFeng: 5月新增信贷预计规模8500亿 依旧实体冷、个贷热

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