Chinese credit still slowing

Tuesday 17 October 2017

Chinese credit data for September was out on Saturday. Total Social Financing came in at 1.82tr yuan, banks made up 1.27tr yuan of that:

Shadow banking accounted for 30%, consistent with the recent trend of slowing:

Year on year growth in new yuan loans was a meager 5.8% but the three month moving average is still high at 50%:

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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.