China
China
Real Gross Domestic Product
Gross Domestic Product, constant prices, annual % change, SA, updates monthly
Real Gross Domestic Product measures the change in the inflation-adjusted value of all goods and services produced in the economy. It comprises private consumption and investment, inventory buildup, government spending and net exports. Markets watch this indicator to gauge the strength and composition of growth.
China
Activity Indicators
Retail Sales, Industrial Production, Fixed Asset Investment, annual % change, updates monthly
Assesses fluctuations in Chinese economic activity using three indicators: Retail Sales measures consumer spending on retail goods and services, Industrial Production captures gross value added from large industrial firms, and Fixed Asset Investment quantifies capital spending on real estate development, construction, and machinery and equipment by state-owned enterprises, private businesses, institutions and individuals. Note: Due to distortions introduced during the annual Lunar Week holiday, the National Bureau of Statistics combines January and February values.
China
Price Indices
All Items Consumer Price Index and Producer Price Index, annual % change, NSA, updates monthly
Measure of the change over time in the Consumer Price Index, which quantifies the average prices paid by urban and rural consumers for a market basket of goods and services, and the Producer Price Index, which calculates the average change in price of goods and services sold by manufacturers and producers. As the most widely used measures of inflation, changes in these indices are closely followed by policymakers, financial markets, businesses, and consumers to understand price pressures in China, and in the global economy.
China
Trade Balance
Merchandise Trade Balance by region, 12-month rolling sum, balance of payments basis, billions USD, SA, updates monthly
Measures the difference in value between imported and exported merchandise over the reported period, calculated as a 12-month rolling sum. A positive number indicates that more merchandise was exported than imported – generating a trade surplus – and a negative number indicates a deficit. Trade imbalances may reflect fleeting differences in growth rates or more permanent factors in the composition of growth or the endowment and price of natural resources.
China
Policy Rate
Loan Prime Rate, %
The Loan Prime Rate is the lending rate provided by Chinese commercial banks to their most creditworthy customers, and serves as the benchmark for most other loans. Although the Loan Prime Rate is derived from quotes submitted by a group of designated banks, it is believed the People’s Bank of China directly guides the process to achieve desired monetary policy outcomes.
China
Money Supply Growth
M2 Money Supply, annual % change, SA, updates monthly
A measure of currency that includes cash, checking deposits, and non-cash assets that can easily be converted into cash. Markets don’t typically respond directly to changes in M2, but growth in the money supply can influence inflation, interest rates, and exchange rates over longer time horizons.
China
Debt Ratios
Credit to General Government, Non-Financial Corporate (Market Value), and Household Sectors, % of gross domestic product, government at nominal value, others at market value, updates quarterly
Aggregate Debt Ratios measure the total borrowing of the general government, non-financial corporate, and household sectors, expressed as a share of gross domestic product. Total debt is followed by investors as a gauge of the vulnerability of an economy to financial shocks. An overly fast pace of debt growth is also frequently associated with a buildup of unproductive investment and excessively high asset valuations.
China
Net International Investment Position
Credit to General Government, Non-Financial Corporate, and Household Sectors, % of gross domestic product at market value, updates annually
The Net International Investment Position is the difference between the external financial assets and liabilities of a nation. A nation with a positive position is a creditor nation and is generally considered a safe haven in financial markets. A nation with a negative position is a debtor nation, with deeper balance of payments vulnerabilities.
China
Currency Reserves
Official Reserve Assets, Foreign Currency Reserves (in convertible foreign currencies), billions USD, updates monthly
Currency Reserves show external holdings that are freely usable for settlement of international transactions, and are readily available to and controlled by monetary authorities for meeting balance of payments financing needs, for intervention in currency markets to affect exchange rates, and for other related purposes. Developed markets with widely used, freely tradeable international currencies typically provide reserve assets rather than engaging in reserve accumulation.
Latest Analysis
Latest Analysis
Rally Fades As Uncertainties Remain
28 May, 2025
Traders are trimming risk after yesterday’s relief rally took market valuations a little too far. A rebound across Treasuries, equity indices, and the US dollar – initially driven by the Trump administration’s...
Tumult Fades As Intense Trading Week Begins
27 May, 2025
Measures of risk appetite are improving this morning amid signs of an easing in last week’s bond market tantrum, and following a brief escalation in cross-Atlantic trade tensions. Equity markets are setting...
Tariff sabre rattling
25 May, 2025
• Tariff news. Threats of increased US tariffs on the EU rattled nerves on Friday. US President Trump pushed out the deadline this morning.• FX trends. US growth challenges & policy uncertainty weighs...
Yields Push Higher as Debt Worries Intensify
22 May, 2025
Treasury markets are extending their losses this morning on worries that funding strains could reach unsustainable levels after the House of Representatives passed President Donald Trump’s broad-reaching...
Dollar Retreats As Market Momentum Slows
21 May, 2025
The ‘Sell America’ trade is back in play this morning. The dollar is unwinding last week’s gains and is down against all of its major counterparts, US equity markets are setting up for a bruising open,...
Markets Retreat on Signs of Consumer Strain
15 May, 2025
The dollar is retreating as optimism surrounding the weekend’s trade deal continues to diminish and US consumers show signs of exhaustion, leaving investors to contemplate longer-term risks to the American...
‘Mar A Lago Accord’ Fears Unnerve Dollar Bulls
14 May, 2025
The dollar is extending its losses this morning, following reports that the United States and South Korea held talks on Seoul’s foreign exchange policies in early May – a development that may signal a...
Economic Scepticism and Soft Inflation Weigh on Dollar
13 May, 2025
Euphoria surrounding the weekend’s US-China tariff climbdown is fading this morning, and the dollar is retreating in the face of a third consecutive monthly undershoot in inflation data. Treasury yields...
US-China Trade Ceasefire Boosts Global Asset Prices
12 May, 2025
A palpable sense of relief is washing over global markets after the US and China agreed to temporarily cut most tariffs on each other’s goods ahead of further trade negotiations. North American equity...
Words vs actions
11 May, 2025
• Positive talks. Constructive talks between US/China over the weekend. But a deal may take some time. This may temper the markets excitement.• Market trends. Equity futures have opened positively. USD...