## Figure 1.19. China: Credit and Bank Balance Sheets

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**Canonical URL:** [Figure 1.19. China: Credit and Bank Balance Sheets](https://www.imf.org/-/media/files/publications/gfsr/2017/april/chapter-1/figure1-19.pdf)

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### 1. Credit and GDP Growth (Percent change year over year)
- China’s credit continues to rise faster than GDP.
- Time markers shown: Jan. 2014, Jul. 14, Jan. 15, Jul. 15, Jan. 16, Jul. 16.
- Series breakdown by bank type:
  - Large commercial banks
  - Joint-stock commercial banks
  - City commercial banks
  - Rural financial institutions
- Credit measure in panel 1: total social financing stock (mainly private sector credit).

### 2. Fast Credit Growth and Past Major Crises (Percent of GDP)
- Fast credit growth has signaled financial crisis risk in international experience.
- Historical crisis reference points shown on chart:
  - Japan bubble
  - Spain housing crash
  - U.S. subprime crisis
  - Thailand during Asian crisis
  - China credit surge
- Long-run timeline markers present: 1980 83 86 89 92 95 98 2001 04 07 10 13 16.
- Comparative scale markings preserved: 0 50 100 150 200 250 300 350; 0 10 20 30 40 100 130 160 190 220; 50 80 110 140 170 200 230.

### 3. Bank Total Assets to GDP (Percent)
- Chinese banks are now among the largest in the world relative to the size of the economy.
- Country labels use ISO country codes; examples visible: IND US AR US ZA FB RA JPN DEU CHN.
- Specific highlighted values for China (2016): CHN 25% 17% 17% 11% 2016.
- Charts include nominal GDP comparisons and adjusted versus unadjusted credit-to-GDP ratio (right scale).

### 4. Total Asset Growth (Year over year, percent)
- Smaller city commercial and joint-stock banks are still growing rapidly.
- Year-over-year growth markers preserved: 0 5 10 15 20 25 30.
- Panel timelines include 2009 10 11 12 13 14 15 16.

*Sources: Bank for International Settlements; CEIC; Haver Analytics; IMF, World Economic Outlook database; and IMF staff calculations. Note: Data labels use International Organization for Standardization (ISO) country codes. In panel 1, credit is total social financing stock (mainly private sector credit).*

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_Source: https://www.imf.org/-/media/files/publications/gfsr/2017/april/chapter-1/figure1-19.pdf_