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
Rattled markets
26 March, 2026
• Negative vibes. Ongoing concerns about the Middle East conflict weighed on sentiment. Equities lower, oil & yields higher. USD firmer. AUD under pressure.• Twists & turns. Situation in Middle...
Iran optimism fades, leaving FX markets bracing for more turbulence
26 March, 2026
Good morning. Risk appetite is deteriorating across the financial system as the Middle East conflict shows little sign of easing ahead of President Trump’s deadline for resuming military strikes...
Markets rally on peace hopes
25 March, 2026
A wave of cautious optimism is washing over financial markets after the United States reportedly offered Iran a 15-point peace plan, reinforcing the belief that Washington is looking for an exit from the...
Oil prices retrace higher as Mideast conflict continues
24 March, 2026
Energy prices are ratcheting higher once again as fighting in the Middle East rages unabated, suggesting that President Donald Trump’s efforts to find a diplomatic off-ramp have not met with success thus...
Twists & turns
23 March, 2026
• Risk reversal. Comments by Pres. Trump saw oil prices fall & sentiment improve. USD weaker. AUD ticked up, but AUD also underperforms on crosses.• Fragile markets. Situation in Middle East remains...
Markets stage violent reversal after Trump signals de-escalation in Iran conflict
23 March, 2026
Oil prices are tumbling and currency markets are snapping back toward pre-war levels after President Donald Trump said that Washington and Tehran had held “very good and productive conversations”...
Middle East concerns & spillovers
22 March, 2026
• Market nerves. Concerns about the duration of the Middle East conflict & global economy remain. Equities fell on Friday, bond yields rose. AUD underperforms.• Risk radar. Situation in Middle East...
Oil prices soar as Mideast conflict widens
19 March, 2026
Global energy benchmarks are approaching last weekend’s panic-driven highs as the Middle East conflict shows signs of spiralling out of control. Brent is trading above $115, West Texas Intermediate...
Market wobbles return
18 March, 2026
• Negative vibes. Another jump in energy prices & upward repricing in interest rates dampened risk sentiment. USD firmer. AUD & NZD underperform.• Macro news. Asia exposed to higher energy costs....
Fed holds rates, downplays oil price-driven shift in risk calculus
18 March, 2026
The Federal Reserve left interest rates unchanged this afternoon and did little to acknowledge an Iran war-driven shift in the balance of risks facing the US economy in the accompanying statement, suggesting...