Margin debt in China is skyrocketing: China's stock market margin debt is up to a record ~$431 billion. This figure has DOUBLED over the last 2 years. This now surpasses the 2015 Chinese stock market bubble peak of ~$354 billion by 22%. Furthermore, margin trading volume in the Shanghai Stock Exchange has averaged $22 billion per day over the last 2 weeks, near the highest on record. Margin trading volume has tripled over the last 12 months and is in-line with the 2015 peak levels. Risk appetite in China is through the roof.(The Kobeissi Letter)