Policymakers are moving to ensure that funding difficulties don’t disrupt local government spending plans. This doesn’t constitute an about-turn in efforts to restrict off-budget borrowing, as some...

Stories that the PBOC banned banks from increasing deposit rates when it raised the deposit rate ceiling at the weekend are another sign of policymakers’ ambivalence towards the use of market-oriented...

China’s goods trade surplus last year was a third higher in dollar terms than at the previous peak in 2008. Yet the country’s current account surplus – the broadest measure of its economic imbalance...

Today’s cut to benchmark interest rates is not a sign of panic as some will argue but a rational response to weaker-than-expected data. Policymakers have room to act more forcefully if needed but are...