The volume of new loans in May was well below expectations.
From Reuters: “Chinese banks lent 551.6 billion yuan in local currency loans in May, missing market forecasts for 610 billion yuan, the People’s Bank of China said on Monday. “
Meanwhile, M2 — a measure of money supply — grew just 15.1% vs. estimates of 17.2%.
So, Shanghai is getting smoked.
Business Insider Emails & Alerts
Site highlights each day to your inbox.