Chinese credit crawls higher

Monday, 15 July 2019

June new yuan loans were out Friday night. Total social financing was firm at 2.26tr yuan and bank lending was a more subdued 1.66tr:

Given last year’s weak base effect, the year on year growth was a fat 91%:

Shadow banking is still trending lower:

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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.