Chinese credit slowly slows

Wednesday 11 December 2019

Chinese new yuan loans for November are out and remain subdued. Total social financing was 1750bn yuan while bank lending was 1390bn yuan of that:

Year on year growth rebounded to 15% but the three month moving average is just 2%:

Shadow banking contonues to trend 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.