
More recent developments

July PMIs point to softening growth
July’s PMI data suggests China’s industrial juggernaut is starting to slow. Per recent data from the stats bureau (NBS) and S&P, respectively: The NBS PMI came in at 49.3 in July, down from 49.7 in June The S&P PMI –… Read More »

China accelerates fiscal spending in Q2
Beijing opened the fiscal taps in Q2. According to recent data from the finance ministry (MoF), overall fiscal expenditure rose 12.4% y/y over the quarter – marking the fastest pace of growth since Q1 2022. Government-managed fund spending – which… Read More »

State Council says interest rate subsidies coming to boost consumption
The State Council wants to juice consumption by lowering borrowing costs. On Friday, it announced it will introduce interest rate subsidies for: Personal consumer loans Loans to service-sector businesses The goal: Stimulate consumption by reducing credit costs for consumers and… Read More »