Economic growth in China may or may not be stabilising, but its debt problem is growing bigger.
New data show that “aggregate financing,” the broadest measure of Chinese credit growth available, jumped 78 per cent between November and December, to Rmb1.820tn ($276bn) — the most since June, according to the National Bureau of Statistics.
The sharp increase follows a cut to benchmark interest rates in late October – the sixth cut in a year – as the economy grows at its slowest annual pace in 25 years.
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