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Only Charts

ONLY CHARTS #471

China data dump

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Antipodean Macro
Dec 15, 2025
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1. Year-ended growth in China’s total social financing remained at +8.5% y/y in November but has slowed in recent months.

The backdrop here is one of rising debt-to-GDP in China’s non-financial sector, particularly government debt.

2. Existing home prices in China again fell by 0.7% m/m in November and have fallen more than 20% from the peak.

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