05 Jun 2025
More recent developments
February 24, 2026
Consumers have bleak expectations for income growth
Sluggish income growth is weighing on consumer confidence. That’s our takeaway from the latest survey data on consumer confidence. Some context: The central bank (PBoC) publishes a quarterly survey of household sentiment on current and future economic conditions – with an index… Read More »
February 24, 2026
Beijing signals major infrastructure expansion
Infrastructure investment is set to expand significantly in 2026. That's the message we've been hearing in China's official media. Quick reminder: Infrastructure investment unexpectedly declined 2.2% y/y in 2025. Even more shocking, aggregate fixed asset investment (FAI) declined 3.8%, generating… Read More »
February 24, 2026
State Council researcher explains reduction in consumer subsidies
Beijing has scaled back consumption support through its consumer goods trade-in program – but why? Wei Jigang – a researcher at the State Council’s in-house think tank – thinks he has the answer. ICYDK: Beijing has reduced the scale of… Read More »