President Xi raised expectations ahead of the Third Plenum with talk of a “Master Plan” for reform. We should learn more in the days ahead but, based on what has been revealed so far, the decisions...

With output growth stable and inflation contained, October’s data signalled two key developments: a pull back in investment by the state sector, particularly in infrastructure, and a slowdown in...

Strong imports of industrial commodities last month suggest that China’s investment led rebound was holding up relatively well early in Q4. However, with policymakers again focussing on risks from...

China’s local governments have taken on unhealthy amounts of debt over the last few years but, unlike many, we do not think this should rank among policymakers’ primary concerns. Instead, we would...