China Chart Pack Trade war set to escalate The US appears to be on the verge of expanding its tariffs to cover a total of $250bn of Chinese goods, the production of which generates 1.3% of China’s GDP. The proposed $200bn tariff list includes... 17th September 2018 · 1 min read
China Chart Pack Bad loans on the rise Commercial banks’ non-performing loans (NPL) rose by RMB183bn in Q2, the biggest increase in over a decade. On paper, bad loans now make up just under 2% of all loans, the highest ratio since the... 16th August 2018 · 1 min read
China Chart Pack Corporate defaults surge Corporate bond defaults in China have jumped recently, adding to worries about the economic outlook. July is on track to more than double the previous monthly record for the scale of onshore bonds... 19th July 2018 · 1 min read
China Chart Pack Capital flows balanced despite rise in trade tensions Against a backdrop of rising trade tensions with the US and jitters about the wider outlook for emerging economies, capital flows in and out of China have been broadly balanced. Global investors still... 21st June 2018 · 1 min read
China Chart Pack Renminbi resilient amidst EM currency sell-off With rising US bond yields putting EM currencies under pressure, the renminbi stands out as a beacon of stability. It has only edged down against the dollar and has continued strengthening in trade... 17th May 2018 · 1 min read
China Chart Pack Health of labour market as unclear as ever Investor scepticism about much of China’s economic data is deep-rooted and the unemployment figures have long been considered among the worst of the lot. So the release this week of a new, survey... 18th April 2018 · 1 min read
China Chart Pack China facing mounting tariff threat The trade sanctions announced so far this year by the Trump administration on solar panels, washing machines, steel and aluminium have been inconsequential from China’s perspective: the US last year... 14th March 2018 · 1 min read
China Chart Pack Headwinds from pollution crackdown set to ease One recent headwind to economic growth has been the government’s winter pollution crackdown in northern China, which has triggered numerous factory closures. This has had the desired impact of... 14th February 2018 · 1 min read
China Chart Pack Trade tensions simmer as China-US surplus widens China’s bilateral trade surplus with the US rose in 2017 to a record high of US$275bn according to Chinese data. President Trump, according to the White House, stressed his “disappointment” with this... 24th January 2018 · 1 min read
China Chart Pack Rise in HK interest rates to weigh on property prices Market interest rates in Hong Kong have jumped recently, reaching a nine-year high of 1.3% after the Fed’s rate hike this week. The unusually large spread between HK and US interbank rates that has... 15th December 2017 · 1 min read
China Chart Pack Turn in the cycle The October data available so far suggest that China’s economy is starting to slow after growing at a rapid pace through most of this year. Real investment and property sales were both lower last... 15th November 2017 · 1 min read
China Chart Pack Consumers remain upbeat The latest data on retail sales during China’s National Day “Golden Week” period suggest that consumer demand remains strong. Despite a further increase in overseas tourism during the holiday... 26th October 2017 · 1 min read
China Chart Pack Property market set to cool further Some have pointed to a rise in home sales and housing starts growth in August as evidence that China’s property sector is holding up well despite the government’s curbs. But while the property sector... 19th September 2017 · 1 min read
China Chart Pack Strong bank earnings conceal gloomy outlook Official data published on Monday show that commercial banks’ non-performing loan (NPL) ratio held steady at 1.74% in Q2 and that their net profits grew almost 12% y/y, the fastest pace since 2014... 16th August 2017 · 1 min read
China Chart Pack Policy controls drive property demand to small cities The resilience of home sales in China (up 18% y/y in June) has raised questions about the effectiveness of government efforts to cool the sector, which have been stepped up in recent months. In fact... 19th July 2017 · 1 min read
China Chart Pack China awaits damp squib of MSCI inclusion MSCI will announce on Tuesday whether it will include China’s domestically-listed A-shares in its benchmark indices. It has chosen not to in the past on concerns over market access and official... 16th June 2017 · 1 min read
