China Data Response Trade (Jul.) China’s trade surplus in July rebounded to a record high on the back of strong export demand and a fall in import growth. With export demand set to remain strong as the global recovery gains momentum... 8th August 2014 · 1 min read
China Data Response Manufacturing PMIs (Jul.) The latest PMI surveys confirm that the recovery in manufacturing activity has continued to accelerate going into Q3. That said, policymakers are seemingly comfortable with current growth rates and... 1st August 2014 · 1 min read
China Data Response Balance of Payments (Q2) China’s balance of payments data for Q2 show substantial outflows on the financial account. But this does not mean that capital has been fleeing the country. Instead it is a reflection of the fact... 30th July 2014 · 1 min read
China Data Response HSBC/Markit Flash Manufacturing PMI (Jul.) Today's PMI reading suggests that conditions in the manufacturing sector have continued to improve going into Q3 on the back of targeted support measures and warming external demand. That said... 24th July 2014 · 1 min read
China Data Response Lending, credit (Jun.) & FX reserves (Q2) The rebound in credit growth last month has more to do with a weak base for comparison due to the cash crunch last year, than with the current policy stance. Meanwhile, with upwards pressure on the... 15th July 2014 · 1 min read
China Data Response Trade (Jun.) Despite an increase in the headline growth rate, June’s exports were disappointing, perhaps signalling that global demand at the end of the second quarter was not as healthy as had been hoped. China’s... 10th July 2014 · 1 min read
China Data Response Consumer & Producer Prices (Jun.) Consumer price inflation edged down in June on the back of a slight easing in food inflation. This fall should prove short-lived given that pork prices look set to pick-up in coming months. More... 9th July 2014 · 1 min read
China Data Response Manufacturing PMIs (Jun.) Today's PMIs suggest that conditions in the manufacturing sector have continued to hold up reasonably well, helped by the government's targeted support measures along with healthy external demand... 1st July 2014 · 1 min read
China Data Response HSBC/Markit Flash Manufacturing PMI (Jun.) Today's PMI reading is the latest sign that downwards pressure on the manufacturing sector has eased as a result of the government's targeted measures, which have helped to support domestic demand. 23rd June 2014 · 1 min read
China Data Response Industrial output, fixed investment and retail sales (May.) Today's output and spending data from China suggest that policymakers are being reasonably successful so far at fine-tuning policy in order to stabilise growth. We suspect that downward pressures from... 13th June 2014 · 1 min read
China Data Response Bank Lending & Broad Credit (May) Policymakers’ efforts to channel bank lending to chosen parts of the economy are helping to support loan growth, even as controls on shadow banking continue to bite. Although this has helped to... 12th June 2014 · 1 min read
China Data Response Consumer & Producer Prices (May.) Today's inflation data confirm our view that broader price pressures are stable and that concerns about deflation, sparked by a short-lived fall in headline inflation in April, were overplayed. 10th June 2014 · 1 min read
China Data Response Trade (May.) The unexpected contraction in imports last month probably overstates the weakness in domestic demand. While we believe that the cooling property sector is indeed weighing on commodity demand, May's... 9th June 2014 · 1 min read
China Data Response Official Manufacturing PMI (May.) A third successive pick-up in the official PMI provides further evidence that conditions in manufacturing are improving, thanks to warming foreign demand and a rebound in infrastructure investment... 2nd June 2014 · 1 min read
China Data Response HSBC/Markit Flash Manufacturing PMI (May.) Today's PMI reading suggests that downwards pressure on the manufacturing sector has eased markedly. It provides further evidence that stronger external demand, along with the rebound in... 22nd May 2014 · 1 min read
China Data Response Hong Kong GDP (Q1 14) Hong Kong’s economy slowed sharply in Q1, due to a slump in exports. However, the slowdown is likely to prove temporary, and we expect growth to rebound over the coming quarters as the global economic... 16th May 2014 · 1 min read
