The travel data during the Labor Day holiday Golden Week in mainland China has been released, and both the number of travelers and tourism revenue exceeded the same period in 2019. The Ministry of Culture and Tourism of China revealed…
The National Bureau of Statistics announced that the total retail sales of consumer goods in March was CNY3.79 tn, +10.6% YoY, which was higher than market expectations of 7.5%. The retail sales of consumer goods other than automobiles were CNY3.36…
According to China’s National Bureau of Statistics, GDP grew 4.5% in 1Q23, showing a economic rebound. The GDP YoY growth rose from 2.9% in 4Q22 to 4.5% in 1Q23, and the QoQ growth increased from 2.4% to 9.1%. The rebound…
China’s new loans in March was CNY 3.89 tn, higher than the expectation of CNY 3.3tn and CNY1.8 tn in Feb. In 1Q23, the new loans in China amounted to CNY10.3 tn, up CNY2.27 tn YoY, reflecting the still abundant…
China’s March Caixin (PMI) was 50, lower than the expected of 51.4, which showed signs of a weakening economic recovery and the revenge spending after Covid may not be sustainable. China’s economy is expected to face more downward pressure. HK…
The National Bureau of Statistics announced that the profit of industrial enterprises (above designated size) dropped 22% YoY to CNY887.2bn. Although one cannot be too optimistic on China’s economic outlook, the investment market is less affected by the banking incidents…
Although China has lowered the RRR for financial institutions by 0.25% to around 7.6%, the market expects that RRR cut can potentially release ~CNY500bn of liquidity. As the magnitude of the cut is quite restrained, market does not expect much…
China has released several economic data, the retail sales during 2M23 increased by 3.5% YoY to CNY 7.7 tn, in line with expectations. Meanwhile, real estate development investment during 2M23 fell by 5.7% YoY to CNY 1.37 tn but still…
China has set a goal of 5% GDP growth, 3% consumer price inflation, and an unemployment rate of 5.5% in 2023. The government is prioritizing domestic demand and expanding consumption. In 2M23, exports in USD terms fell 6.8%, more than…
China’s official manufacturing purchasing managers’ index (PMI) in February was 52.6, the highest since April 2012, also higher than the expected of 50.6 and 50.1 in January. The non-manufacturing PMI in February was 56.3, higher than the expected of 54.9…
