China Economics Weekly Unfinished homes, chipmaking woes Detailed housing sales data show that worries about developers’ ability to complete projects continue to hamper demand. And despite some progress, the number of stalled projects remains very large... 26th May 2023 · 6 mins read
China Rapid Response Activity & Spending (Apr.) Growth on most indicators accelerated in y/y terms in April. But this was due to a weak base for comparison from a year ago when Shanghai and several other cities went into lockdown. In seasonally... 16th May 2023 · 3 mins read
China Rapid Response PMIs (Apr.) The latest survey data add to wider evidence that while China’s recovery remains robust, it is losing some momentum. In particular, the manufacturing PMIs fell below 50, suggesting that the reopening... 4th May 2023 · 3 mins read
China Rapid Response Hong Kong GDP (Q1 Preliminary) Hong Kong’s GDP growth turned positive in Q1 after four consecutive quarters of decline. The economy rebounded more rapidly than anticipated, largely thanks to the swift return of foreign visitors as... 2nd May 2023 · 3 mins read
China Chart Pack Financial flows, not trade, leading CNH expansion The renminbi surpassed the US dollar to become the most-commonly-used currency in China’s cross-border transactions for the first time last month. Part of the increase – the part that has received... 27th April 2023 · 11 mins read
China Activity Monitor CAP: Q1 surge will push 2023 growth over 8% Our China Activity Proxy (CAP) shows that the economy bounced back rapidly in Q1, with growth since the start of the pandemic now broadly back in line with the official GDP data. And while the... 26th April 2023 · 4 mins read
China Rapid Response GDP (Q1), Activity & Spending (Mar.) GDP rebounded more quickly than expected in Q1 thanks to a rapid return to normality following last year’s virus disruptions. With consumer confidence on the mend and credit growth accelerating, there... 18th April 2023 · 4 mins read
China Economics Weekly What to make of the recovery so far Mixed recent data have fuelled an inconclusive debate about the strength of China’s economic rebound and how much need there is for additional policy support. In our view, most evidence suggests that... 14th April 2023 · 8 mins read
Event China Drop-In: How strong is the post-lockdown Chinese recovery? 18th April 2023, 9:00AM BST China’s Q1 “data dump” on 18 th April will provide the broadest take so far of the economy’s performance following the end of zero-COVID restrictions. Our China team held an online briefing shortly...
China Economics Weekly Infrastructure supporting services-led recovery The shape of China’s post-zero-COVID rebound has become clearer over the past week: primarily services-driven, as expected, but with stronger construction activity too, which appears to be mostly... 6th April 2023 · 8 mins read
China Chart Pack Uneven consumer recovery slowing down Consumer spending jumped during the first two months of the year as virus disruptions faded. The March retail sales data won’t be published for another couple of weeks. But the data we have so far... 3rd April 2023 · 11 mins read
China Data Response Caixin Manufacturing PMI (Mar.) The Caixin manufacturing index was more downbeat than its official counterpart, especially when it came to export orders. Taken together, the surveys suggest that growth in factory activity dropped... 3rd April 2023 · 2 mins read
China Data Response Official PMIs (Mar.) The official PMIs suggest that China’s rapid reopening recovery remained robust this month. The weak global backdrop weighed on manufacturing but services continued to benefit from a resurgence in... 31st March 2023 · 3 mins read
China Activity Monitor CAP: Most rapid phase of recovery has passed Our China Activity Proxy (CAP) shows a sizeable rebound in services activity early in 2023. While it hasn’t completely run its course, the recovery will slow over the next few months. 29th March 2023 · 4 mins read
China Economic Outlook Reopening recovery to shift down a gear Much of the economic boost from China’s reopening has already happened. While there is still some upside to consumer and services activity, weakened balance sheets and limited policy support mean the... 29th March 2023 · 23 mins read
