In a series of statements at the end of July, the People’s Bank (PBC) laid out a comprehensive position on the role of the renminbi in China’s broader policy framework. The five articles from Vice...

Rising non-performing loan levels are very unlikely to trigger a banking crisis in China, but measures taken to clean up bad debt may hold back economic growth and the pace of rebalancing.

China is seeking to rein in bank lending and hold to a conservative fiscal stance while maintaining rapid economic growth. It cannot do all three.

China’s Q2 GDP growth was in line with our expectation, but unexpected weakness in the June activity data suggests the government may be forced to loosen policy sooner than originally thought.