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11th Jul 2023 16:24China+, Daily Monitor

  • China’s overall credit growth slowed in June, pulled down by slower government bond issuance.
  • Long-term household loans rebounded, but this is probably funding for family businesses.
  • A widening M1/M2 gap indicates likely continued household precautionary saving behaviour.

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Keywords for: 12 July 2023 China+ Monitor

Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence