China pumps credit to nowhere

Tuesday, 9 January 2024

Goldman with the snippet:

Green shoots in policy easing: After the Central Economic Work Conference sending pro-growth signals, latest developments showed some green shoots in policy easing.

The total outstanding of the PBOC’s Pledged SupplementaryLending (PSL) program increased by RMB350bn in December, suggesting that the media-reported PSL-backed urban village renovation and public housing construction are starting.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.