Chinese credit sags anew

Wednesday, 14 November 2018

For a stimulating economy, Chinese credit isn’t exactly lighting us up. October new yuan loans were out overnight at 729bn yuan social aggregate financing and only 697bn yuan in bank loans:

October is always slow but -30% year on year is slower than it ought to be:

The shadow banking share fell away again:

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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.