Despite a larger-than-expected y/y fall in export values, export volumes climbed to record highs. Nonetheless, we still think export volumes will grow more slowly this year than they did in 2023...

CPI inflation rose less than expected in March but is still trending upwards. We think an easing of food price deflation and the ongoing modest economic recovery will support a slow reflation in the...

The PBOC’s scrapping of the regulatory minimum down payment for car loans may help boost vehicle demand in the short run. But it won’t be enough to prevent a further increase in car exports, so...

Sizeable rises in the PMIs in March are consistent with improved economic momentum and/or the easing of sentiment effects that have weighed on the surveys recently. Either way, they add to wider...