China's central government has embarked on a borrowing spree. This month's bond sales were the highest since 2007 and more is in the pipeline as the finance ministry plans to complete the issuance of...

Commercial banks left the Loan Prime Rate (LPR) on hold today. We may see a cut or two next quarter but most signs suggest that the bulk of monetary easing this cycle has already taken place.

With fiscal stimulus ramping up and economic recovery well underway, the PBOC appears to see less of a need to encourage stronger private borrowing. Broad credit growth still looks set to accelerate...

We were already expecting China’s economy to return to its pre-virus path faster than other major economies and sooner than most forecasters anticipate. But with output already back to year-ago levels...