Financial Data Trends - China's total social financing (TSF) increased by 18.87 trillion RMB from January to July, down from 18.1 trillion RMB year-on-year, a decrease of 3.22 trillion RMB[6] - M1 money supply decreased by 6.6% in July, while M2 growth improved to 6.3% year-on-year[6] - New RMB loans for July were 2.6 trillion RMB, compared to 2.1 trillion RMB in June, with total new loans from January to July at 13.53 trillion RMB[6] Consumer Spending Insights - Retail sales of consumer goods in July reached 37,757 billion RMB, a year-on-year increase of 2.7%[6] - Excluding automobiles, retail sales grew by 3.6%, with dining revenue increasing by 3.0%[6] - Service consumption maintained high levels, with travel and leisure services showing strong growth, despite a high base of 20.3% year-on-year in July last year[6] Real Estate Market Analysis - New residential sales prices in first-tier cities fell by 4.2% year-on-year in July, with declines of 3.3%, 9.9%, and 8.0% in Beijing, Guangzhou, and Shenzhen respectively[6] - Second and third-tier cities saw new residential prices drop by 4.8% and 5.8% year-on-year, with the decline widening compared to the previous month[6] - Second-hand residential prices in first-tier cities decreased by 8.8% year-on-year, with notable declines in Guangzhou and Shenzhen[6]
宏观周报：金融数据减速提质 居民出行提振社零
Hua Lian Qi Huo·2024-08-29 08:01