M2 Year-on-Year Growth Expected to Hit 11.2% in March


On the eve of the release of key economic and financial data by China’s central bank, economists foresee an expansion in the M2 money supply in excess of 11%.

A Caixin survey of economists from 12 financial institutions found that the maximum forecast for year-on-year M2 growth at the end of March was 11.4% and the minimum was 10.8%, for a median of 11.2%.

With respect to new loans in March the maximum forecast was 1,700 billion yuan, and the minimum was 1,000 billion yuan, for a median 1,200 billion yuan and an average of 1,266.7 billion yuan.

Lian Ping, chief economist with Bank of Communications, expects year-on-year M2 growth to hold steady, and lending to fall beneath consensus forecasts.