Financing seen stable ahead

Data point to recovering confidence as monetary easing takes effect

China's financing activity maintained steady momentum in the first half with further improvements in June, pointing to recovering market confidence as monetary easing takes effect, said the People's Bank of China, the country's central bank, on Monday.

With uncertainties and challenges still lingering at home and abroad, officials and experts said that the PBOC would maintain an accommodative monetary stance in the second half, with further easing moves likely to be moderate.

The country's aggregate social financing — the total amount of financing to the real economy — stood at 22.83 trillion yuan ($3.18 trillion) in the first six months, up by 4.74 trillion yuan from the same period last year, the PBOC said.