Chinese credit goes down down

David Llewellyn-Smith

Monday 13 September 2021

Chinese credit for August was out Friday night the news is poor. TSF came in at 2.9tr yuan:

This is 17.3% lower than last August and the 3MMA is still down 15.9% to boot:

Year to date new credit is still hovering around -16% and has been for six months:

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

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.