China Economics Weekly A more targeted approach to chipmaking support China is retooling its approach to strengthening domestic chipmaking capabilities. But the obstacles the country faces still look insurmountable at the high-end of the sector. Meanwhile, upcoming data... 24th March 2023 · 6 mins read
China Data Response Activity & Spending (Jan. & Feb.) Activity data for the first two months were broadly as expected, showing a jump in consumer spending coupled with modest gains in investment and industrial output. High-frequency data suggest that... 15th March 2023 · 3 mins read
China Economics Weekly Takeaways from the National People’s Congress China’s annual legislative session offers reasons for optimism and caution. On the one hand, conservative economic targets and policy settings suggest that officials are prioritising quality over... 10th March 2023 · 7 mins read
China Economics Focus China’s economic roadmap for 2023 The economic plans that have been detailed at the National People’s Congress are more cautious and restrained than had seemed likely given the pro-growth messaging ahead of the event. That suggests... 6th March 2023 · 16 mins read
China Chart Pack A near-term fiscal boost Local governments have stepped up their borrowing since the start of the year. They issued RMB860bn in special bonds over the course of January and February, up from an average of RMB105bn per month... 28th February 2023 · 12 mins read
China Economics Weekly Case for rate cuts fades as financial stability concerns return Much of the focus in the coming days will be on the senior government appointments that will be confirmed at the National People’s Congress that starts in just over a week, including for the PBOC. We... 24th February 2023 · 6 mins read
China Economics Update Hong Kong’s recovery to benefit from fiscal support With Hong Kong’s economy on the mend, the budget unveiled today curtailed some of last year’s emergency spending. But it still signals a supportive fiscal stance, particularly in areas hardest hit by... 22nd February 2023 · 3 mins read
China Economics Weekly Sign of a property turnaround are building Data published this week showed that property prices stabilised in January following a record 16-month decline. This adds to growing signs that the housing market is embarking on a cyclical rebound... 17th February 2023 · 4 mins read
Event Asia Drop-In: Ueda at the BOJ, China’s property recovery and more 23rd February 2023, 8:00AM GMT Our latest Asia Drop-In tackles the region’s big stories, from the Bank of Japan’s new governor to China’s property rebound to Pakistan’s default risk. During this 20-minute online briefing...
China Economics Weekly Export downturn, outbound tourism, EV subsidies Early signs are the China’s goods exports will fall further in the next few months. Outbound tourism though is surging with further major relaxations this week of COVID-linked limits on overseas... 10th February 2023 · 5 mins read
China Economics Weekly Fiscal support on its way, IPO reform largely cosmetic Government bond issuance, a timely proxy for the fiscal stance, fell year-on-year last month. But all the signs are that this will be temporary, with borrowing likely to ramp up in the coming months... 3rd February 2023 · 6 mins read
China Data Response Hong Kong GDP (Q4 Preliminary) Hong Kong’s GDP was unchanged in q/q terms last quarter. This was largely due to a further decline in exports but the worst may be over on that front given that global growth is probably close to a... 1st February 2023 · 3 mins read
China Data Response Caixin Manufacturing PMI (Jan.) The Caixin manufacturing PMI published today edged up slightly in January as disruption from the reopening wave eased but it remained at a subdued level. Taken together with the official survey... 1st February 2023 · 3 mins read
Climate Economics Focus The curious case of China’s climate credentials There is a touch of the Dr Jekyll and Mr Hyde about China’s climate credentials, with its well-documented record of burgeoning emissions and reliance on coal standing in stark contrast to its... 31st January 2023 · 16 mins read
China Data Response Official PMIs (Jan.) The official PMIs add to evidence of a rapid rebound in economic activity this month as disruption from the reopening wave faded. More shoppers returned to the street boosting services activity while... 31st January 2023 · 3 mins read
