China’s businesses and banks are increasingly confident about the economic situation, but consumers are downbeat, preferring by a wide margin to save rather than spend.

The renminbi’s latest gains appear to be a response to rising US criticism that the pace of movement in the exchange rate since June has been too slow. This reactive approach could backfire as...

Consumer price inflation continues to rise on the back of rapid food price increases, which should prove short-lived. Underlying price pressures remain weak.

The government has announced a series of moves over the last month designed to push the renminbi along the road to becoming an international currency. But major obstacles stand in the way, not least...