China Data Response PMIs (Sep.) The latest PMIs show that economic activity continued to accelerate in September on the back of a broad-based improvement in both services and manufacturing. 30th September 2020 · 2 mins read
China Chart Pack Policymakers refocus on property developer debt The speed at which officials in China have pivoted from crisis response to another round of restrictions on property developers has caught many by surprise. Developers might have hoped that they would... 28th September 2020 · 11 mins read
China Economics Weekly Government bonds to rally in the coming years FTSE Russell yesterday announced that it will include China in its World Government Bond Index (WGBI). The resulting shift in passive funds could more than double foreign inflows into Chinese... 25th September 2020 · 5 mins read
China Economics Update LPR on hold with hikes likely next year Commercial banks left the Loan Prime Rate (LPR) on hold today. With the economy now largely back to its pre-virus path and the PBOC appearing reluctant to keep monetary policy loose for longer than... 21st September 2020 · 2 mins read
China Economics Weekly COVID-19 downturn now in the rear-view mirror The economic data out of China this week beat expectations and point to a further rebound. The strength is still concentrated in industry and construction but that’s not a constraint on near-term... 18th September 2020 · 4 mins read
China Data Response Activity & Spending (Aug.) Economic growth in China accelerated further in August as sentiment improved among consumers and private firms. Retail sales surpassed 2019 levels for the first time since the COVID-19 outbreak, while... 15th September 2020 · 3 mins read
China Economics Weekly Trade surplus near all-time global high Data released this week confirm that China is on course to run one of the biggest annual current account surpluses ever recorded relative to global GDP, despite the global economic slump. Pandemic... 11th September 2020 · 5 mins read
China Data Response Bank Lending & Broad Credit (Aug.) Broad credit growth hit its highest level in two and a half years as growth in direct financing and shadow credit picked up amid steady bank lending. We think that this acceleration has further to run... 11th September 2020 · 2 mins read
China Data Response Consumer & Producer Prices (Aug.) Headline consumer price inflation slipped last month on the back of easing food price inflation. But core consumer prices rose for the first time since the COVID-19 outbreak and the ongoing recovery... 9th September 2020 · 2 mins read
China Data Response Trade (Aug.) The pick-up in headline export growth last month reflects base effects and masks a slowdown in levels terms. Meanwhile, imports are doing just as well as exports once price effects are adjusted for. 7th September 2020 · 2 mins read
China Data Response Caixin Manufacturing PMI (Aug.) The Caixin manufacturing PMI points to faster growth in manufacturing activity in August. Admittedly, the official survey released yesterday had pointed to a marginal slowdown. But taken together... 1st September 2020 · 2 mins read
China Data Response Official PMIs (Aug.) The latest official PMI surveys showed that the pace of economic growth picked up in August as stronger services activity more than offset a slight loss of momentum in manufacturing and construction. 31st August 2020 · 2 mins read
China Chart Pack Recent stimulus has set back domestic rebalancing The consumption share of GDP had edged up in recent years, but that progress has been reversed by the COVID-19 stimulus response, which has focused on boosting investment. The consumption share should... 27th August 2020 · 11 mins read
China Economics Update Little appetite for further LPR declines Commercial banks left the Loan Prime Rate (LPR) on hold today. Given signs that the focus of monetary policy has shifted to containing financial risks on the back of the relatively rapid economic... 20th August 2020 · 2 mins read
China Data Response Activity & Spending (Jul.) The latest data suggest that China’s economy continued to recover in July, though less quickly than expected. But a slowdown in the recovery was always likely at some point as the initial boost from... 14th August 2020 · 3 mins read
China Data Response Bank Lending & Broad Credit (Jul.) Broad credit growth hit its highest rate in nearly two and a half years last month as a pick-up in direct financing and shadow credit offset slower issuance of bank loans. The acceleration has further... 11th August 2020 · 2 mins read
