The People’s Bank has succeeded over the past few weeks in shifting expectations for the renminbi’s future path while also scaling back its foreign exchange accumulation. At first glance the data...

The renminbi appears to have stabilised in May as market participants have pared back expectations for the currency’s appreciation. Meanwhile, weaker demand for interbank funds, along with liquidity...

Allowing local governments to issue bonds is a key step towards boosting transparency and encouraging stronger oversight over fiscal spending. But a broader rebalancing of the revenues and spending...

Headline inflation is likely to have dropped in April but is set to rebound this month, due to swings in food inflation. That said, the broader picture is that price pressures remain low and stable...