China’s new yuan loans for September is out and shows a rebound from the recent trough but still weak growth in the larger scheme of things. New yuan loans at banks were 857.2 billion versus 750 expected. But shadow financing was crap at 202.8 billion versus 400 expected:
Year on year growth remains deeply negative at -24% if somewhat improved:
Advertisement
And M2 below target at 12.9%: