Daily panoramic analysis report of macro market

1. China's financial data in March exceeded market expectations. According to the central bank, China's social financing scale increased by 4.65 trillion yuan in March, 1.28 trillion yuan more than the same period last year; The increment of social financing scale in the first quarter totaled 12.06 trillion yuan, a record high in a single quarter, 1.77 trillion yuan more than the same period last year. In March, the year-on-year growth rate of M2 accelerated to 9.7%, and the growth rate of M1 remained unchanged at 4.7%; The net cash invested in the first quarter was 431.7 billion yuan. In March, RMB loans increased by 3.13 trillion yuan, an increase of 395.1 billion yuan year-on-year; In the first quarter, RMB loans increased by 8.34 trillion yuan, a record high, an increase of 663.6 billion yuan year-on-year.

2. Under the pressure of global inflation, China's prices continue to operate steadily. According to the data released by the National Bureau of statistics, the national CPI rose by 1.5% year-on-year in March, an increase of 0.6 percentage points over the previous month; The month on month increase of 0.6% was flat. In March, food prices fell by 1.5%, of which pork prices fell by 41.4% and fresh vegetable prices rose by 17.2%. In March, PPI rose by 1.1% month on month, 0.6 percentage points higher than that of the previous month; Up 8.3% year-on-year, down 0.5 percentage points from the previous month, mainly due to the high base in the same period last year. According to expert analysis, the annual CPI increase in 2022 may be larger than that of last year, but it will still be in a reasonable range.

- Advertisment -