Chinese credit continues to slow

Thursday 13 July 2017

It’s a twisted road but the slowing is coming. Bank loans in June were strong at 1.54tr yuan while total social financing was a little higher at 1.75tr yuan:

Banks are lending their butts off but shadow banking is being squeezed:

Aggregate new loans were up 9% year on year:

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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.