August 2018 China Macro Data Recap

China’s economic data remained weak in August, but there were some signs of a modest recovery on the horizon.  Non-loan credit growth expanded for the first time in four months,  as shadow banking channels contracted by a smaller margin.  Industrial value-added activity picked up slightly, and  issuance of local governments’ special project bonds may boost infrastructure investment modestly in Q4.

Posted September 18, 2018
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