China Rapid Response China Activity & Spending (Jul. 2026) After regaining some ground at the end of Q2, China's economy lost momentum again last month. The silver lining is that the boost to manufacturing activity from AI capex continued to build, and that... 17th August 2026 · 2 mins read
China Rapid Response Bank Lending & Broad Credit (Jul.) Bank loan growth slowed for the 16th consecutive month in July, hitting yet another record low of 5.1% y/y, down from 5.2% in June. Household demand remained particularly weak, with household loan... 14th August 2026 · 2 mins read
China Rapid Response China Merchandise Trade (Jul. 2026) The boom in Chinese trade slowed a touch in July but the big picture is that export and import values remain elevated, helped by soaring global demand for electronics and green tech products. Crude... 7th August 2026 · 7 mins read
China Rapid Response Hong Kong GDP (Q2 Preliminary) Hong Kong’s economy expanded by 4.3% y/y in Q2. While strong on paper (the economy grew by 3.5% last year), that simply reflects flattering base effects and the impact of last quarter’s bumper growth... 31st July 2026 · 2 mins read
China Rapid Response China PMIs (Jul. 2026) The unofficial services PMI dropped sharply in July, mirroring the decline in its official counterpart and adding to the evidence that China's economy lost momentum at the start of Q3. But the recent... 31st July 2026 · 3 mins read
China Rapid Response China Politburo Meeting (Jul. 26) The Politburo has just concluded its July meeting which, as usual, focused on economic affairs. The tone was less upbeat than the April meeting, presumably reflecting the deterioration in a number of... 30th July 2026 · 3 mins read
China Rapid Response China Bank Lending & Broad Credit (Jun.) Year-on-year growth in aggregate financing to the real economy (AFRE – the PBOC’s preferred measure of broad credit) fell sharply from 7.7% in May to a fresh record low of 7.4% in June. Both bank loan... 15th July 2026 · 2 mins read
China Rapid Response China GDP (Q2) & Activity (Jun. 2026) The official GDP figures showed a sharper-than-expected slowdown in Q2, bringing them closer in line with our China Activity Proxy (CAP). This may largely represent a greater willingness to... 15th July 2026 · 4 mins read
China Rapid Response China Merchandise Trade (Jun. 2026) Trade values took another big leg up in June. This predominantly reflects the recent surge in semiconductor prices on the back of the AI boom. But even putting that aside, foreign demand for Chinese... 14th July 2026 · 6 mins read
China Rapid Response China Consumer & Producer Prices (June 2026) The uptick in Chinese inflation caused by the Iran War continued to unwind in June, amid lower prices for oil and many other commodities. The latest escalation in US-Iran tensions could deliver some... 9th July 2026 · 2 mins read
China Rapid Response China PMIs (Jun. 2026) The declines in the unofficial services and composite PMIs mean that the survey data no longer point to faster growth in June. But the PMIs remain healthy by recent standards and still imply stronger... 30th June 2026 (Updated 3rd July 2026) · 3 mins read
China Rapid Response China Activity & Spending (May 2026) The May activity data show that strong exports are boosting industrial production, but domestic demand remains lacklustre 16th June 2026 · 2 mins read
China Rapid Response Bank Lending & Broad Credit (May.) The net increase in new credit jumped in May, but that just reflects the usual seasonal pattern. Year-on-year growth in aggregate financing to the real economy (AFRE – the PBOC’s preferred measure of... 12th June 2026 · 2 mins read
China Rapid Response China Consumer & Producer Prices (May 2026) Although cost pressures for Chinese firms picked up further in May, they remain somewhat narrow in scope. Moreover, consumer price inflation is already showing signs of tapering off, and we think it... 10th June 2026 · 2 mins read
China Rapid Response China Merchandise Trade (May 2026) Chinese exports gained further momentum in May, led by soaring semiconductor shipments. Meanwhile, the pickup in import growth mostly reflects favourable base effects. 9th June 2026 · 3 mins read
China Rapid Response China PMIs (May 2026) The PMIs suggest that China’s economy accelerated in May, with the import price shock from the Iran war moderating, external demand holding up well and AI-related spending boosting services activity. 3rd June 2026 · 3 mins read
