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Illustration: Rebecca Zisser/Axios

The People's Bank of China released the monthly credit data for March earlier today, and it appears that policymakers are adding credit growth to all the other stimulative measures like tax cuts, infrastructure spending and preferential policies to keep the economy stable.

Why it matters: China's policymakers have spent the last several months working hard to mitigate the effects of the trade war with the U.S., and so far it looks like their efforts may be working, at least in the short term.

Bloomberg has the details:

Aggregate financing was 2.86 trillion yuan ($426 billion) last month, compared with about 700 billion yuan in February, the People’s Bank of China said Friday. The median estimate was 1.85 trillion yuan in a Bloomberg survey.

The March trade data was a mixed bag, with exports growing at their fastest pace in in five months while imports fell (Caixin):

Exports of goods rose 14.2% year-on-year to $198.7 billion in March, according to data released by the General Administration of Customs. That compared with a 20.7% decline in February and was ahead of the median forecast of a 6.5% increase in a Bloomberg survey of economists.Meanwhile, imports fell 7.6% year-on-year to $166 billion in March after a 5.2% slide in February. Imports missed the Bloomberg median forecast of a 0.2% increase. The trade surplus rose to $32.7 billion from February’s $4.1 billion

Go deeper

Stephen Breyer formally announces retirement from Supreme Court

Photo: Bill O'Leary/The Washington Post via Getty Images

Justice Stephen Breyer on Thursday sent a letter to President Biden formally announcing his retirement from the Supreme Court.

What he's saying: "I enormously appreciate the privilege of serving as part of the federal judicial system ... I have found the work challenging and meaningful," Breyer said.

COVID created an epic U.S. trade gap

Chart: Axios Visuals. Data: Census Bureau/Bureau of Economic Analysis

The details of the blockbuster fourth quarter GDP report released Thursday morning tell a vivid story of how the underpinnings of the world economy have been reshaped by the pandemic.

One example: In the arithmetic around U.S. economic output, trade acted as a more severe drag last year than it has in a generation.

Updated 1 hour ago - Technology

Pandemic gave cover to online dating scams

Illustration: Annelise Capossela/Axios

Crooked Casanovas used online dating scams to steal an estimated $500 million from lonely victims last year, according to a new analysis of government fraud data by Atlas VPN, an internet security provider.

Why it matters: The isolation of the lingering pandemic provided cover to fraudulent suitors who had an excuse for not meeting up in person even as they fleeced their would-be lovers out of gift cards, money — even cryptocurrency.