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April M2 money supply +8.1% y/y, vs forecast of +9.3% Outstanding TSF +11.7% Y/Y, vs 12.3% in March TSF 1.85 trln yuan, vs forecast 2.25 trln yuan (Adds detail on slowest loan growth in nearly two decades) BEIJING, May 12 (Reuters) - China’s new bank loans fell more than expected in April while money supply growth slowed to a 21-month low, as the central bank gradually scales back pandemic-driven stimulus to reduce debt and financial risks in hot areas of the economy. The world’s second-largest economy grew by a record 18.3% in the first quarter, rebounding from last year’s coronavirus shock, driven by strong domestic consumption, surging exports and continued government support for businesses, especially smaller firms.

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