China Data Response Bank Lending & Broad Credit (Sep.) Broad credit growth accelerated to a nine-month high in September. Although this will add to concerns about the trajectory of Chinese debt levels, in the short-run it will nonetheless be supportive of... 15th October 2015 · 1 min read
China Data Response Consumer & Producer Prices (Sep.) Today's inflation data suggest that seasonal factors and volatile food prices aside, price pressures were basically stable last month. Nonetheless, we think it is only a matter of time before... 14th October 2015 · 1 min read
China Data Response Trade (Sep.) Stronger-than-expected export data hint at warming foreign demand. Meanwhile, we aren’t as concerned about domestic demand as some given that the contraction in imports values continues to mostly... 13th October 2015 · 1 min read
China Data Response FX reserves (Sep.) Today’s data on China’s foreign exchange reserves suggest that capital outflows eased last month, allowing the People’s Bank to reduce its currency intervention. 7th October 2015 · 1 min read
China Data Response Manufacturing PMIs (Sep.) Downbeat sentiment is still weighing on the PMIs, but today's better-than-expected readings still support our view that the economy is holding up better than many think. 1st October 2015 · 1 min read
China Data Response Caixin/Markit Flash Manufacturing PMI (Sep.) Today’s weaker-than-expected PMI will add to mounting concerns over Chinese growth. That said, Caixin’s manufacturing PMI has not provided a particularly good reading of the health of the broader... 23rd September 2015 · 1 min read
China Data Response Activity & Spending (Aug) The weakness in August comes as no surprise, at least to us, given the disruptions to activity last month as a result of the Victory Day parade preparations and Tianjin blast. The bigger picture is... 14th September 2015 · 1 min read
China Data Response Bank Lending & Broad Credit (Aug) Today’s data for August confirm that policy easing has led to a rebound in credit growth. This turnaround will raise concerns among many that efforts to rein in debt have been shelved, but it is a... 11th September 2015 · 1 min read
China Data Response Consumer & Producer Prices (Aug.) Producer price deflation deepened last month on the back of a softening in global commodity prices. But the stronger-than-expected pick-up in consumer prices still supports our view that domestic... 10th September 2015 · 1 min read
China Data Response Trade (Aug.) Trade growth remained subdued last month but there are good reasons to think that the outlook is brighter than many believe. 8th September 2015 · 1 min read
China Data Response Manufacturing PMIs (Aug.) Today's PMI readings suggest that industrial activity softened in August, but the weakness should be temporary and there are good reasons to expect a rebound in coming months. 1st September 2015 · 1 min read
China Data Response Caixin/Markit Flash Manufacturing PMI (Aug.) Today’s weaker-than-expected PMI will add to mounting concerns over Chinese growth. Nonetheless, we continue to believe that sentiment is currently overly downbeat and that policy support will limit... 21st August 2015 · 1 min read
China Data Response Hong Kong GDP (Q2) Hong Kong’s GDP growth slowed last quarter, dragged down by a fall services exports and subdued consumer spending. Looking ahead, we expect growth to remain weak in the coming quarters as exports... 14th August 2015 · 1 min read
China Data Response Activity & Spending (Jul.) July’s weaker-than-expected activity and spending data will undoubtedly add to speculation that policymakers are trying to engineer a sustained devaluation of the renminbi in order to shore up growth... 12th August 2015 · 1 min read
China Data Response Bank Lending & Broad Credit (Jul) The recent rebound in broad credit growth accelerated last month. With the impact of looser monetary policy still feeding through, we see further upside for credit growth in the months ahead which... 11th August 2015 · 1 min read
China Data Response Manufacturing PMIs (Jul.) We wouldn’t read too much into the weak July reading of Caixin’s manufacturing PMI which we suspect was dragged down by bad weather and more downbeat business sentiment following recent stock market... 3rd August 2015 · 1 min read
