Before COVID-19 that is. New yuan loans for January came in at 5.07tr with banks at 3.34tr:
Shadow credit is rebounding slowly as Bejing becomes desperate:
M2 is still struggling at 8.4%:
While broad credit is becalmed at 10.9%:
This is only enough credit growth to see GDP slowly slow. Next month we’ll see the virus bill come due, or not if Beijing wishes to hide it.