Chinese credit keeps on sinking

Wednesday, 12 December 2018

Chinese new yuan loans for November were out last night and keep on keeping on, down. Bank loans came in at 1.25tr yuan and total social financing at 1.53tr yuan:

This was down -5% year on year and 3MMA remains negative:

Shadow banks remain a shadow of their former selves:

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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.