CPI joined PPI in deflationary territory last month for the first time in more than a year. While this was partly driven by the usual price volatility around Lunar New Year, the January-February...

While the annual budget presented at the NPC implies an acceleration in fiscal expenditure this year, early signs are that spending has slowed in Q1, weighing on economic activity. Fiscal spending...

Export growth cooled over the first two months of 2025, with tariff front-running providing less of a boost to demand than we had anticipated. This slowdown comes before any substantial hit from...

Chinese policymakers have stuck with an ambitious target for real GDP growth but have become more cautious on the outlook for nominal growth and inflation. And while they did deliver some increase in...