Chinese equities ended June at a two-month high, likely supported by state buying. Increased intervention by officials also appears to have been responsible for the renminbi’s recent appreciation...

Efforts to curtail off-budget borrowing by local governments have recently helped slow the rise of China’s public debt ratio. But a further rise in government debt is almost certain in future as it...

Capital outflows from China were broadly unchanged last month and are likely to persist at this relatively low level for the foreseeable future as households and firms increase their exposure to...

The US Fed is poised to raise rates on Wednesday. When it last hiked back in March, the People’s Bank quickly followed suit. This time, however, we expect the PBOC to stay on hold and, indeed, to keep...