Credit Suisse: May Loans Surged in Final Week

Dong Tao of Credit Suisse says China's big four banks lent as much money in the final week of May as in the three prior weeks. Fear of a slowing economy spurred the monetary emissions, and though not mentioned in his comments, it times with a surge in land prices around China.

According to mainland media, in the first three weeks of May this year the four state-owned banks lent 120 billion yuan. When the market was worried about the economic slowdown, in one week they lent more money than the three prior weeks combined, lifting the total for all of May.

They're down to their last bullet: inflation.

iFeng: 陶冬：5月最后一周贷款暴涨 央行货币政策一年四次摇摆