China punches the credit afterburners

Tuesday, 15 July 2014

Ah…just when you think sanity is prevailing… China’s June new yuan loans data is out and it has punched the credit afterburners. Total social financing powered to almost 2 trillion with bank loans roughly half of that:

The year on year lending figure took off:

Shadow banking is still in a downtrend but banks are offsetting it:

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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.