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 Economics Update How much longer will Hong Kong hold on to its dollar peg? The viability of Hong Kong’s dollar peg is again in question although the evidence linking recent asset price movements to the peg is weaker than many think. In any case, none of the alternatives to... 11th 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
China Chart Pack Government still central to the recovery (Mar 10) Chinese consumers played a major role in supporting economic growth over the past year. Even at the depths of the global crisis, consumer spending barely slowed. But this was not entirely because of... 4th March 2010 · 1 min read
China Economics Update Hong Kong growth set to surprise on upside Hong Kong’s economy will significantly outpace most people’s expectations this year, but inflation is likely to remain very low. 18th February 2010 · 1 min read
China Chart Pack Still waiting for Chinese consumption (Feb 10) The economic data have on the whole been very encouraging over recent weeks, but this strength has only fuelled market concerns about inflation and the prospect of monetary tightening. These worries... 5th February 2010 · 1 min read
China Chart Pack Tightening to proceed very gradually (Jan 10) Last week’s increase in the required reserve ratio for commercial banks was a strong signal that the ultra-loose monetary policy of 2009 is being reversed. Increases to administered interest rates are... 19th January 2010 · 1 min read
China Chart Pack China confirms policy continuity for 2010 (Dec 09) The annual Economic Work Conference broke up today with the expected commitment from China’s leaders to keep supportive monetary and fiscal policy in place while managing inflation expectations... 7th December 2009 · 1 min read
China Chart Pack China returned to rapid growth in Q3 (Oct 09) Nearly a year after exports collapsed, China’s economy is once again expanding at a frenetic pace. There are medium term risks in the form of industrial overcapacity, weaker banks and the threat that... 23rd October 2009 · 1 min read
