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The Numbers

China: Credit Numbers Show No Post-Stimulus Pickup

by Felix-Antoine Vezina-Poirier, Chief Strategist  

China’s November monetary and credit data were disappointing. New yuan loans increased by 580 bln, nearly half the expected amount. Total social financing rose by 2.3 tln instead of the expected 2.7 tln. Finally, M2 growth slowed to 7.1% y/y from 7.5% in…

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