China Unleashes 5.15 Trillion Yuan Credit Tsunami As Country Emerges From Lockdown

China flooded the market with credit in March as the world's second-largest economy emerged from draconian lockdown measures imposed in late January and February to stop the spread of COVID-19. Total social financing last month was 5.15 trillion yuan, a full 2 trillion ahead of estimates and the highest monthly total on record. New yuan loans, meanwhile, were 2.85 trillion, more than 1 trillion more than consensus was looking for and near the top end of the range. The print suggests financial