Chinese credit still weak

Wednesday, 16 January 2019

Global markets are convinced that China is about spring from its credit funk but so far it ain’t. December credit was decent at 1.59tr yuan with 1.08tr in bank loans but hardly tearing it up:

Shadow banking had a better month:

The three month moving average for new credit flopped into the positive:

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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.