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
Dollar softens as US consumers slow spending growth
10 February, 2026
The dollar is weakening and yields are nudging lower after US consumer spending surprisingly flatlined in December, underpinning expectations for more monetary easing in the months ahead. According to...
Political developments roil currency markets
09 February, 2026
Treasury yields are climbing and the dollar is under pressure after Bloomberg reported that Chinese regulators have instructed the country’s commercial banks to cut their holdings of American government...
Risk Reversal
08 February, 2026
• Risk rebound. Strong recovery in US equities. USD lost ground. Backdrop pushed NZD & AUD higher. JPY still under pressure post weekend elections.• Data flow. RBA Deputy Gov speaks (Weds). US retail...
Investors cautiously step into market wreckage seeking bargains
06 February, 2026
After several sessions of violent, whiplash price action in precious metals, cryptocurrencies and high-beta technology stocks, investors are hesitantly stepping back in this morning, driving a mean-reversion...
Currency market fireworks remain subdued as traders process conflicting signals
05 February, 2026
Good morning. Foreign exchange markets are caught between conflicting forces as precious metals extend their decline and a sell-off in technology stocks shows signs of exhaustion. Gold and silver prices...
Push-pull forces
04 February, 2026
• Push-pull. A few equity market wobbles overnight. USD a bit firmer. NZD underperforms. AUD retraces its RBA rate hike induced uptick.• Macro events. ECB & BoE expected to hold rates steady tonight....
Tech washout leaves currency markets directionless
04 February, 2026
Foreign exchange markets are looking somewhat rudderless this morning after a technology-led selloff hammered the biggest US stocks yesterday and dampened global risk appetite. The dollar is extending...
Calm returns, dollar resumes its slide
03 February, 2026
Good morning. Foreign exchange markets are trading on a more stable footing as tumult in the precious metals complex eases and the White House leaves its social media accounts in a state of benign neglect....
RBA in focus
02 February, 2026
• Metal vol. Large swings in gold & silver prices. Positive US data supported the USD index. AUD held up thanks to some relative outperformance.• RBA today. On net, a RBA rate hike looks more likely...
Precious metals plunge triggers global selloff
02 February, 2026
A slow-motion flight to safety is underway across the currency markets this morning, as a bloodbath in the precious metals complex extends into a second week. Equity futures are pointing to further losses...