#China's peer-to-peer lending industry, the world’s largest, is shrinking, BBG reports. Savers have been rushing to pull money amid a govt crackdown that's seen some platforms halted & put under police investigation. Outstanding loans dropped 26% in July to 956bn yuan ($139bn). pic.twitter.com/Eu66AZl08P
— Holger Zschaepitz (@Schuldensuehner) August 21, 2018
New deputy #PBOC governor Zhu Hexin:
China will not use strong stimulus to support the economy;
will maintain liquidity reasonably ample;
will enhance financial sector's ability to serve real economy;
will make policies more forward looking and flexible.— YUAN TALKS (@YuanTalks) August 21, 2018
For those doubting the extent of #China's slowdown.
Kudlow: China's Economy 'Collapsing'https://t.co/tFP0pB5IQ7 #BubbleCollapse #CentralPlanning pic.twitter.com/Tahmhvi5m2
— David Jensen (@RealDavidJensen) August 20, 2018