China may have recorded a trade deficit last quarter but the pace of its intervention to hold down the renminbi barely slowed. Meanwhile, a rebound in lending last month is consistent with our view...

Food prices probably drove headline inflation back above 5% in March, but non-food inflation still seems subdued, particularly when the impact of January’s re-weighting of the CPI basket is taken into...

The timing of today’s rate hike was a minor surprise but the bigger picture is that interest rates have played a small part in China’s tightening cycle to date. We think that monetary tightening over...

High commodity prices have achieved what the last Five-Year Plan and a string of summits with key trading partners could not: a rebalancing of Chinese trade. In this China Watch we consider the...