So-called shadow lenders’ share of financing rose to 29 percent of loans in the third quarter, up 5 points, the survey showed.
Not all the China data showing a rebound have come from government sources. A report released by HSBC Holdings PLC and Markit Economics on Monday showed manufacturing strengthened more than estimated this month, mirroring an increase last month in a similar government-produced index.
Singaporean Finance Minister Tharman Shanmugaratnam said in a speech yesterday that while he does not see a “hard landing” for China, a growth rate of less than 6.5 percent would have “major implications for the rest of the world, and especially for Asia.”
Paul Gruenwald, Standard & Poor’s chief Asia-Pacific economist, said in a report yesterday that China’s growth may range from 7 percent to 7.5 percent during this year and beyond, a level that will become the “new normal.”