高盛：中国_6 月贷款及信贷数据强于预期
Goldman Sachs·2025-07-15 01:58
Total social financing (TSF flow, reported): RMB 4199bn in June, vs. Bloomberg consensus: RMB 3801bn, GS forecast: RMB 3700bn. 14 July 2025 | 6:30PM HKT China: Stronger-than-expected loan and credit data in June Bottom line: June money and credit data came in above market expectations, mainly due to stronger-than-expected loan extension. Government bond issuance remained strong in June. Fiscal deposits declined, broadly in line with seasonal patterns. The use of fiscal funds may have boosted money supply gr ...