Credit growth was stable last month despite the slump in economic activity. In most countries, credit growth would slow sharply in response to a shock such as the coronavirus, as households defer large purchase and firms put investment plans on hold. But in China’s case, policymakers’ tight grip over the financial system allowed them to keep credit flowing last month.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.