Vi e w p o i n t | 14 Sep 2026 08:53:36 ET │ 10 pages China Economics New Credit in Search of a Fiscal Catalyst CITI'S TAKE China's August credit data underwhelmed, with new RMB loans of just RMB60bn and TSF of RMB1,662bn, both missing expectations. Households remained in deleveraging mode, net repaying loans, while corporate credit demand stayed soft. Governments remained the biggest support for new TSF, yet the long-awaited reversal from fiscal austerity may be yet to materialize. We see downside risks to ...