One bright spot in the generally downbeat economic data released this week was a further acceleration in property sales and prices last month. The pick-up was driven by China’s smaller cities, where...

Market interbank rates have now converged with those offered by the People’s Bank in its lending operations. We think the central bank will soon start cutting these official policy rates in order to...

If carried out, China’s threat last week to expand tariffs to cover more than 70% of its imports from the US would nudge up import costs, though only very slightly. The renminbi’s recent depreciation...

The People’s Bank is signalling increasing discomfort with the recent pace of renminbi declines, including with a new restriction on forward currency transactions today. But the depreciation so far in...