Over the weekend China released its January bank lending and money supply data for January and the steady recovery continues with yuan loans jumping to 1070 trillion with another 1.5 trillion in shadow and other instruments:
This was the highest yuan lending for January in two years:
The growth rate year on year for yuan loans and M2 climbed to 16%:
Still a long way behind the heady post-GFC days:
This data would also be benefiting from the shift in Chinese New Year to February, both in the sense of exaggerating the annual growth rate and in cramming loans before the break.