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
Markets Trade Sideways As Trade Uncertainties Loom
07 July, 2025
The dollar is holding near a three-year low and measures of risk appetite are pointing to subdued trading action after the Trump administration seemingly extended its tariff deadline to August 1—reducing...
Jobs boost
03 July, 2025
• Upbeat tone. US equities, bond yields, & the USD edged up overnight. EUR eased back, as did NZD & AUD, though they remain at high levels.• US data. US jobs report a bit better than expected....
US Jobs Report Crushes Expectations, Triggering Dollar Rally
03 July, 2025
The US job creation engine accelerated last month, weakening market expectations for at least two rate cuts from the Federal Reserve in the back half of the year. According to data just released by the...
USD remains on the back foot
01 July, 2025
• Consolidation. Modest moves across most markets. USD index remains heavy with EUR pushing higher. AUD hovering near top of its range.• Macro pulse. US manufacturing ISM shows momentum still sluggish....
US dollar blues
30 June, 2025
• Pressure points. US equities hit another record high, while the USD remains under pressure. AUD has risen to the top of its multi-month range.• USD trends. USD index ~10.5% below where it started the...
US jobs in focus
29 June, 2025
• Holding on. Pockets of volatility on Friday but on net US equities & bond yields rose. EUR continues to climb. AUD drifted a little lower.• US macro. Consumer spending fell. Some signs of tariff...
Canadian Dollar Plunges As Trump Threatens To Reimpose Tariffs
27 June, 2025
The peace and quiet was nice, while it lasted. The Canadian dollar is down almost 60 basis points after President Donald Trump said he was ending all trade negotiations with the country, while threatening...
Markets Turn Cautious As US Consumer Spending Engine Slows
27 June, 2025
The Federal Reserve’s preferred inflation measure came in slightly hotter than expected in May—lending support to the central bank’s cautious approach—but personal spending levels missed forecasts, pointing...
USD losing altitude
26 June, 2025
• US trends. Outlook for US rate cuts supported sentiment & exerted more pressure on the USD. AUD at the top of its multi-month range.• Macro forces. Patchy US growth & signs the labour market...
"Shadow Fed Chair" Fears Drive Dollar Lower
26 June, 2025
The dollar is trading near a three-year low and Treasury yields are down across the curve after a report suggested that Donald Trump could appoint the next Federal Reserve chair early in an attempt to...