Key points of the report
In January, the new scale of social financing was 6170 billion yuan, 984.2 billion yuan more than the same period last year and 720 billion yuan more than expected. This is mainly because the short-term loans and bill financing of non-financial enterprises increased by 434.5 billion yuan and 319.3 billion yuan respectively over the same period last year. In January, the performance of medium and long-term loans of enterprises was acceptable, with an increase of 2100 billion yuan, slightly 60 billion yuan higher than the same period last year, but 700 billion more than the same period in 2019. However, the performance of residents' medium and long-term loans was weak, with a year-on-year decrease of 202.4 billion yuan. In the context of steady growth, banks have a strong willingness to lend, but limited by financing demand, the growth of medium and long-term loans is not very high. It is expected that the property market policy will be further relaxed in the future, infrastructure investment will continue to accelerate, and social finance will maintain rapid growth.
Summary:
Asset performance and capital changes:
China's top five commodity prices: soda ash 5.63%, iron ore 5.06%, glass 3.72%, Shanghai copper 3.62%, Shanghai tin 2.35%; Methanol - 0.78%, vegetable oil - 0.41%, ethylene glycol - 0.38%, apple - 0.37%, Liandou - 0.37%
The top five (100 million yuan) of precipitation capital inflow and outflow: Shanghai copper 21.62, screw thread 6.58, soda ash 5.54, iron ore 5.20 and palm 3.47; Soybean oil -0.67, Shanghai lead -0.57, vegetable oil -0.25, jujube -0.05, fuel -0.05
Inflow and outflow of precipitation funds from the sector (RMB 100 million): non ferrous metals 37.52, black building materials 15.31, energy and chemical industry 14.21, Shenzhen Agricultural Products Group Co.Ltd(000061) 8.73, precious metals 241
Important news and economic data:
In January, the increment of social financing scale was 6.17 trillion yuan, 984.2 billion yuan more than the same period last year. At the end of January, M2 increased by 9.8% year-on-year, 0.8 and 0.4 percentage points higher than that at the end of last month and the same period of last year respectively.
According to the 21st Century Business Herald, relevant departments recently issued relevant opinions on the supervision of urban commercial housing pre-sale funds, clarifying the national unification of the provisions on pre-sale funds.
In January, the CPI of the United States increased by 7.5% year-on-year, expected to increase by 7.3%, and the previous value increased by 7.0%; The month on month increase was 0.6%, the expected increase was 0.5%, and the previous value increased by 0.5% to 0.6%.
The number of initial jobless claims in the United States in the week to February 5 was 223000, which was expected to be 230000. The previous value of 238000 was revised to 239000.
Risk tip: China's real estate decline and the Federal Reserve tightening monetary policy
