China Rapid Response Consumer & Producer Prices (Aug.) CPI exited deflation in August, and PPI rose for the first time in nine months. Core inflation remained unchanged after hitting a 11-month high in July, while services inflation rose to its highest in... 11th September 2023 · 3 mins read
China Economics Weekly Huawei’s chip breakthrough Huawei’s new phone suggests that SMIC, China’s top chipmaker, has succeeded in mass-producing 7nm chips, an important step towards technological self-sufficiency. But it is too early to conclude that... 8th September 2023 · 9 mins read
China Rapid Response China Trade (Aug.) China’s export values continued to contract in August but this mostly reflects lower prices. Export volumes continued to hold up well and are still above their pre-pandemic trend. We doubt this... 7th September 2023 · 3 mins read
Capital Daily Another false dawn for China’s markets? New measures to support China’s struggling property sector seem to have sparked some renewed optimism in the country’s financial markets. We think there are three points to note. 4th September 2023 · 4 mins read
Commodities Weekly Metal prices still struggling, despite China stimulus Most commodity prices rose this week after data showed that US labour market conditions are easing, lowering expectations for US interest rates and weakening the dollar. It is perhaps surprising that... 1st September 2023 · 4 mins read
Commodities Update China PMIs encouraging for commodities demand While doom and gloom builds around China’s growth, PMIs for August provided some encouragement this week, even if they didn’t paint a picture of booming commodities demand. They suggest infrastructure... 1st September 2023 · 2 mins read
China Economics Weekly A major step-up in support Stimulus efforts are finally gaining momentum. Yesterday, regulators announced measures to support households and shore up the property sector, including looser downpayment requirements and reductions... 1st September 2023 · 6 mins read
Capital Daily Are Chinese AI stocks about to take off? We think China’s AI-related stocks may outperform their US counterparts over the rest of this year. But their longer-term prospects look less upbeat, to us. 31st August 2023 · 5 mins read
China Chart Pack China Chart Pack (Aug. 2023) Our China Chart Pack has been updated with the latest data and our analysis of recent developments. China's reopening recovery has fizzled out and the economy is now at risk of a downward spiral. We... 31st August 2023 · 1 min read
China Rapid Response PMIs (Aug.) The PMI surveys suggest economic momentum stabilised in August after months of slowdown. Downward pressure on manufacturing activity appears to have dissipated, while construction activity accelerated... 31st August 2023 · 4 mins read
Metals Focus Steel prices unlikely to forge ahead Absent major fiscal stimulus in China, global steel demand growth will be weak in the next few months. Accordingly, we forecast price declines in major steel markets towards year-end. Only when... 29th August 2023 · 11 mins read
China Activity Monitor CAP: Treading water Our China Activity Proxy (CAP) suggests that China’s economy regained some ground in July, following a contraction in June. But the big picture is that output has levelled off recently and that the... 29th August 2023 · 3 mins read
Commodities Weekly Natural gas prices strike lower; iron ore resilient It has generally been a positive week for commodity prices. Most metals and agricultural prices rose on the week, in somewhat of a turnaround from recent trends. By contrast, energy commodities fell... 25th August 2023 · 4 mins read
China Economics Weekly Property stimulus tea leaves, BRICS expansion The PBOC surprised analysts by keeping the benchmark for mortgage pricing unchanged this week. President Xi’s catch-phrase “houses are for living in, not for speculation”, widely associated with tight... 25th August 2023 · 6 mins read
Emerging Markets Economics Update Five key themes from the BRICS summit Efforts by the BRICS group to demonstrate an image of unity and cooperation were on full show at this week’s summit, but – aside from membership expansion – policy proposals were light and not overly... 25th August 2023 · 6 mins read
Metals Data Response Global Steel Production (Jul.) Global steel production will probably continue to edge lower in the next few months, following the latest month-on-month decline revealed by the WSA today. Crucially, we think that steel demand will... 22nd August 2023 · 2 mins read
