Chinese lending exploded higher in January, making a complete mockery of government attempts to curb rampant loan growth.
Manufacturing output also hit record levels despite tightening efforts, based on purchasing manager data from HSBC and Markit Economics.
Slowing the Chinese economy could prove far harder than regulators expect.
Bloomberg: Banks lent almost 1.6 trillion yuan ($234 billion) last month, the Economic Information Daily reported today on its Web site. That’s more than a fifth of the banking regulator’s target for lending this year.
Join the conversation about this story »
See Also:
- Chinese Bank Valuations Dirt Cheap As They Collapse To Crisis Levels
- Bank Of China Plans Huge $30 Billion Share Sale To Shore Up Reserves
- Morgan Stanley May Sue Zero Hedge For Publishing Their Research As Its Own