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
Trading ranges narrow in run-up to Fed meeting
08 December, 2025
The dollar is edging lower against a basket of its most-traded rivals as investors focus attention on this week’s Federal Reserve meeting—and on the implications for monetary policy in 2026. Benchmark...
US Fed & RBA in focus this week
07 December, 2025
• Solid run. US equities rose on Friday, as did bond yields. USD index tread water. Commodity currencies (AUD, NZD, CAD) strengthened.• Central banks. No change by RBA (Tues), however tone could be ‘hawkish’....
Currencies settle in for a long winter's nap
05 December, 2025
Consolidative price action is taking place across financial markets this morning as risk appetite improves ahead of next week’s all-important Federal Reserve meeting. Benchmark ten-year Treasury yields...
Fed easing bets drive dollar lower
04 December, 2025
The dollar is cruising toward an eighth consecutive day of losses—its longest losing streak since 2020—as the Japanese yen climbs and traders double down on expectations for an aggressive easing campaign...
RBA & US Fed divergence
03 December, 2025
• US data. Weaker US ADP employment reinforced US Fed rate cut bets. US equities ticked up & the USD lost ground. AUD & NZD supported.• AU GDP. Topline growth a bit softer than anticipated in Q3,...
AU growth & US ADP employment in focus
02 December, 2025
• Positive tone. Limited news flow. Upbeat market vibes continue. US equities rose again. Cyclical currencies like the AUD & NZD ticked up further.• AU GDP. Australian Q3 growth data out today. Partial...
Santa Claws selloff abates
02 December, 2025
The slow-motion flight to safety that began on the weekend is showing signs of exhaustion in currency markets this morning, but sentiment remains fragile. Japanese government bond yields are stabilising...
Hawkish Japanese policy rhetoric destabilises currency markets
01 December, 2025
Financial markets are kicking off December in a turbulent fashion as policy tightening hints from the Bank of Japan nudge global rates higher and dull the dollar’s appeal. Ten-year Treasury yields are...
Shifting interest rate expectations
30 November, 2025
• Positive trends. Risk sentiment remained positive on Friday. US & European equities rose, as did cyclical currencies like the NZD & AUD.• AU/NZ factors. After last week’s AU CPI & signals...
Currency markets grapple with Hassett's rise as Fed chair candidate, along with UK budget chaos
26 November, 2025
Currencies are trading on a mixed footing this morning as investors pivot from expecting some Federal Reserve easing to anticipating too much. The dollar slumped, equity markets rallied, and yield curves...