China Rapid Response China Activity & Spending (Aug. 2025) The activity data point to a further loss of momentum last month. While some of this reflects temporary weather-related disruptions, underlying growth is clearly sliding, raising pressure on... 15th September 2025 · 2 mins read
China Rapid Response China Bank Lending & Broad Credit (Aug.) Weak private credit demand drove a further weakening of bank loan growth in August. And growth in government bond issuance slowed for the first time this year, resulting in a slowdown in broad credit... 12th September 2025 · 2 mins read
China Rapid Response China Consumer & Producer Prices (Aug. 2025) Headline CPI inflation slipped back into negative territory last month, but this just reflects volatile food prices. Underlying inflation has actually ticked up lately. This is mostly due to temporary... 10th September 2025 · 3 mins read
China Rapid Response China Merchandise Trade (Aug. 2025) Exports were broadly unchanged last month – the slowdown in headline y/y growth was just a base effect. But with the temporary boost from the US-China trade truce fading and the US raising tariffs on... 8th September 2025 · 2 mins read
China Rapid Response China PMIs (Aug. 2025) The rise in the RatingDog services PMI provides further evidence that the economy regained some momentum last month, supported by faster growth in the services sector. But given weak domestic demand... 1st September 2025 (Updated 3rd September 2025) · 2 mins read
China Rapid Response China Activity & Spending (Jul. 2025) Q3 started on a weak note, with a broad-based slowdown across key indicators. Given cooling exports and a lack of additional policy support, we think the outlook for the rest of the year remains... 15th August 2025 · 3 mins read
China Rapid Response China Bank Lending & Broad Credit (Jul.) There was a small pick-up in overall credit growth in China’s economy in July, as a result of a further surge in government borrowing. But bank loan growth has continued to slow, suggesting that... 13th August 2025 · 2 mins read
China Rapid Response China Merchandise Trade (Jul. 2025) Exports came under pressure again last month – the acceleration in headline y/y growth was simply due to base effects. With the temporary boost to demand from the US-China trade truce already fading... 7th August 2025 · 3 mins read
China Rapid Response Hong Kong GDP (Q2 Preliminary) Note: We are resending this Response due to a technical error. Apologies for any inconvenience caused. Plunge in HIBOR boosting consumption growth Hong Kong’s GDP growth surprised to the upside... 31st July 2025 · 2 mins read
China Rapid Response China PMIs (Jul. 2025) The better-than-expected Caixin services PMI reading for July only partly makes up for the weakness in the rest of the survey data. The big picture is still that economic momentum looks to have cooled... 31st July 2025 (Updated 5th August 2025) · 3 mins read
China Rapid Response China GDP (Q2) & Activity (Jun. 2025) Official GDP data came in a touch weaker in Q2. But the figures still overstate the strength of growth by around 1.5%-pts. And the June activity data suggest that the quarter ended on a weak note... 15th July 2025 · 3 mins read
China Rapid Response China Bank Lending & Broad Credit (Jun.) The acceleration in broad credit growth last month, to a 16-month high, is a positive sign for the outlook and reduces the risk of a sharp declaration in near-term economic activity. But this tailwind... 14th July 2025 · 2 mins read
China Rapid Response China Merchandise Trade (Jun. 2025) Growth in export values rebounded somewhat last month, helped by the US-China trade truce. But tariffs are likely to remain high and Chinese manufacturers face growing constraints on their ability to... 14th July 2025 · 3 mins read
China Rapid Response China Consumer & Producer Prices (Jun. 2025) Headline inflation came out of negative territory last month, with core inflation rising to its highest level in over a year, likely reflecting the effects of the consumer goods trade-in scheme. But... 9th July 2025 · 2 mins read
China Rapid Response China PMIs (June 2025) The Caixin services PMI released today adds to evidence that growth in the sector slowed in June. But the pickup in manufacturing more than offset this drag, pointing to a rebound in overall activity... 30th June 2025 (Updated 3rd July 2025) · 2 mins read
China Rapid Response China Activity & Spending (May 2025) The US-China trade truce was not enough to prevent a broader loss of economic momentum last month. With tariffs set to remain high, fiscal support waning and structural headwinds persisting, growth is... 16th June 2025 · 2 mins read
