The reasons for the large fluctuation are the sluggish real estate market, strict supervision of implicit debt of urban investment platform, high financing pressure, the influence of epidemic situation and "static control" on the production and operation activities of micro-subjects, and the central bank's increased control over narrow credit. These factors are intertwined, which makes it more difficult to accurately predict the total amount, structure, rhythm and institutional changes of credit, and the data fluctuation is obviously increased. Investment is risky, please make a careful decision.