MNI BRIEF: China February M2 Stays At 7% Y/Y

China's M2 money supply grew by 7.0% y/y in February, flat from January's growth and meeting market forecast, supported by the People's Bank of China's moderately loose stance, data released Friday by the PBOC showed.

Alongside that, M1 money supply grew by 0.1% y/y, slowing from January's 0.4% growth. 

Banks extended CNY1.01 trillion in new loans in the first two months, down from January's seasonal boom of CNY5.13 trillion. Total social financing rose by CNY2.23 trillion, lower than growth of CNY7.06 trillion in January. Shadow banking transactions decreased by CNY354.4 billion, compared to a CNY572.5 billion expansion the previous month.