China's credit growth in April exceeded expectations, M2 money supply grew fastest since late 2016

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China's credit growth comes faster than expected in April and the growth of broad money supply hit the fastest pace since late 2016.

Analysts expects Chinese authority to ease monetary policies further after as the central bank pledged to step up counter-cyclical adjustments to support the coronavirus-ravaged economy.

Chinese banks extended 1.7 trillion yuan ($240.05 billion) in new yuan loans in April, down from 2.85 trillion yuan in March but higher than the 1.02 trillion yuan a year earlier, according to data released by the People’s Bank . . .

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