There is little sign of a slowdown in credit growth in China as the authorities continue to try and drive cash into the disrupted economy.  Total social financing came in at a robust CNY3.09trn while overall new loan growth hit CNY1.701trn.  This marks a significant pick up in credit creation, with household debt up nearly 2% pts of GDP since the end of last year while NFC bank debt has jumped from 95% to 102% of GDP.