China Data Response China Consumer & Producer Prices (Nov.) Consumer prices fell year-on-year for the first time since 2009 last month. But this was almost entirely driven by a rebound in pork supply and isn’t evidence of faltering demand. To the contrary... 9th December 2020 · 2 mins read
China Data Response China Trade (Nov.) Exports jumped last month largely due to a surge in consumer goods exports as renewed COVID-19 flare-ups kept consumption in many of China’s trading partners skewed towards goods rather than services... 7th December 2020 · 2 mins read
China Economics Weekly Financial decoupling meets financial coupling Chinese firms are coming under increasing pressure to delist from US equity markets. But the broader trend is towards tighter financial ties between China and the rest of the world. The financial... 4th December 2020 · 8 mins read
China Data Response China Caixin Manufacturing PMI (Nov.) The Caixin manufacturing PMI hit a decade high in November. The official survey released yesterday also rose, to its highest in three years. While the rebound in industry will eventually lose steam... 1st December 2020 · 2 mins read
China Data Response China Official PMIs (Nov.) The latest official PMI surveys show that the pace of economic growth picked up in November on the back of a broad-based improvement in both services and manufacturing. 30th November 2020 · 2 mins read
China Economics Weekly Vaccines will jab holes in exporters’ sails The widespread rollout of vaccines in major developed economies is likely to take the wind out of the COVID-boom in online spending that has powered the extraordinary recent strength of China’s... 27th November 2020 · 5 mins read
China Chart Pack Financial risks once again at centre stage There is no clearer sign that China’s economy is back to normal than the return to centre stage of concerns about property developers, the bad debts of SOEs and financial risks. Regulators’ tolerance... 25th November 2020 · 12 mins read
China Economics Weekly Credit risk awakens from COVID-19 hibernation With output now back to its pre-virus path and the labour market returning to health, policymakers appear to have decided that the time has come to instil a bit more discipline into credit markets. By... 20th November 2020 · 3 mins read
China Economics Update LPR unchanged as PBOC focuses on financial risks Commercial banks left the Loan Prime Rate (LPR) on hold today, after the PBOC moved to mitigate the impact of corporate bond defaults on interbank liquidity. With growth now back to its pre-virus path... 20th November 2020 · 3 mins read
China Activity Monitor Growth accelerates to a three-year high Our China Activity Proxy (CAP) suggests that growth continued to accelerate last month as service sector activity returned to its pre-virus path, while strong construction and exports continued to... 19th November 2020 · 3 mins read
China Data Response China Activity & Spending (Oct.) The latest data suggest that the broad-based acceleration of China’s economy continued in October. Policy stimulus continued to boost investment and industrial output while growth in real retail sales... 16th November 2020 · 3 mins read
China Economics Weekly Vaccine impact, tech crackdown, renminbi The coming week’s retail sales data are likely to signal that consumer spending, the part of China’s post-lockdown recovery that has lagged the most, is back to health. China is a rare example of a... 13th November 2020 · 6 mins read
China Data Response China Bank Lending & Broad Credit (Oct.) Broad credit growth hit is highest level in nearly three years as faster growth in direct financing and shadow credit more than offset slower bank lending. We think this acceleration will continue... 11th November 2020 · 2 mins read
China Data Response China Consumer & Producer Prices (Oct.) Headline consumer price inflation fell sharply in October, to its lowest since 2009. But this was almost entirely due to falling food prices – core inflation and factory gate inflation held steady... 10th November 2020 · 2 mins read
China Data Response Trade (Oct.) Exports continued to do well last month thanks to a shift in consumption, from services toward goods, in many of China’s trading partners. Meanwhile, inbound shipments held up better than the decline... 9th November 2020 · 2 mins read
China Economics Weekly Tech giants in the Party’s crosshairs The abrupt suspension of Ant’s IPO, which was supposed to enter the record books this week as the world’s largest, is a stark reminder of the political risks and lack of transparency that are still... 6th November 2020 · 8 mins read
