China Chart Pack Still-rising pork prices add to near-term inflation risks Pork prices continued to rise in the first half of July. But the pace at which they are rising has slowed. Pig numbers are picking up – helped in part by high prices – and the government is releasing... 21st July 2011 · 1 min read
China Chart Pack Equity markets may be turning the corner After falling for two months, Chinese equities have clawed back some of their losses in the last few days. We think that the recovery in equity prices has much further to go. 29th June 2011 · 1 min read
China Chart Pack Power shortages unlikely to undermine growth Power shortages are adding to investor concerns about the outlook for China’s growth. The main problem is that the government has not allowed regulated electricity prices to increase in line with the... 17th May 2011 · 1 min read
China Chart Pack China’s dollar dilemma unresolved S&P’s decision to put a negative outlook on the US’s AAA credit rating will have been greeted with wry smiles in Beijing. Officials there have long been of the view that US policymakers cannot be... 21st April 2011 · 1 min read
China Chart Pack Households on the back foot The recent data suggest that China’s households are increasingly reluctant to spend. Real retail sales growth slumped to a five-year low in the first two months of 2011. Other measures of household... 22nd March 2011 · 1 min read
China Chart Pack Revamped data show property prices still rising slowly Much of the initial reaction to China’s new property price statistics has focused on the fact that property prices are “still rising”. But the median increase in new residential prices among the... 21st February 2011 · 1 min read
China Chart Pack Banks squeezed by reserve ratio hikes Interbank rates have spiked to multi-year highs ahead of Chinese New Year. This partly reflects seasonal factors, but also that successive required reserve ratio (RRR) hikes are squeezing banks’... 26th January 2011 · 1 min read
China Chart Pack Markets rethink policy outlook Markets have scaled back their expectations for policy tightening in China as senior officials have made clear that they see no need for a major policy shift. The government’s stance is based in part... 21st December 2010 · 1 min read
China Chart Pack Inflation returns to top of policy agenda (Nov 10) Inflation has risen faster than anticipated over the last few months and is now the primary concern of both policymakers and markets. A tight credit quota seems likely for 2011 – perhaps RMB6.5trn... 18th November 2010 · 1 min read
China Chart Pack Renminbi gains likely to fade (Oct 10) The renminbi has risen more than 2% against the dollar since the beginning of September. The US Treasury’s decision to defer publication of its currency report and the upcoming G20 summit will... 27th October 2010 · 1 min read
China Chart Pack Heat rising again over renminbi (Sep 10) A spurt of renminbi appreciation in the last few days may not be enough to dampen growing anger in Washington at how slowly the Chinese currency has moved since the de facto peg was loosened in June... 16th September 2010 · 1 min read
China Chart Pack Construction slowdown gathers pace (Aug 10) The first of China’s data releases for July, the manufacturing PMIs, were downbeat. The economic slowdown is being led by heavy industry, which is bearing the brunt of uncertainty over the outlook for... 5th August 2010 · 1 min read
China Chart Pack Slowdown exposing reliance on stimulus (Jul 10) Investors are increasingly focused on signs that China’s economy is slowing. In fact, q/q GDP growth probably peaked as long as a year ago when the full force of government stimulus was being felt... 13th July 2010 · 1 min read
China Chart Pack How big a deal are recent wage increases? (Jun 10) Big wage increases in China are stoking concern about inflation and corporate profitability. But they represent catch-up after two years in which wage growth was weak. Furthermore, double-digit... 9th June 2010 · 1 min read
China Chart Pack Property crackdown shakes markets (May 10) After a poor start to 2010, equity markets in China have weakened further with the launch in earnest of a government campaign against property speculation. The government’s decision to focus on... 7th May 2010 · 1 min read
China Chart Pack Renminbi set to rise again against dollar, but slowly (Apr 10) The US Treasury’s decision to delay release of the semi-annual currency report in which it names “currency manipulators” among major trading partners has had a negligible impact on market expectations... 7th April 2010 · 1 min read
