Today’s 25bp cut to the 5-year LPR is clearly aimed at supporting the housing market. On its own it will not revive new home sales. But coupled with efforts to provide increased credit support to...

There was the usual seasonal surge in net credit in China in January that took new bank lending to a record high. The underlying story is less positive, with loan demand little changed and broader...

The upcoming Year of the Dragon will bring some improvements to China’s economy, including an uptick in births, increased fiscal support and a further normalisation in consumer behavior. But with the...

CPI fell deeper into deflationary territory last month. But this was largely due to the usual volatility in food and tourism prices around Chinese New Year. We think consumer price inflation will...