China’s credit surge rolls on

No end in sight to the latest round of Chinese debt with October leading at 690tr yuan for banks and 1.42tr for total social financing:

New loans are thumping along:

The rolling annual says it all:

Non-bank finance is back big but it’s not so much shadow these days as it is bonds:

M2 fell away a bit:

But broad credit keeps on keeping on:

No waning of building in this data.

David Llewellyn-Smith
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  1. When the US Dollar falls it’s your opportunity to put your foot on the gas.

    The Chynese economy has a lot of debt to service in the midst of a global recession. But I’m sure it’ll all be fine.