PBoC relaxes cross-border interbank financing rules to promote offshore RMB liquidity

Industrial profits are surging – but the headline figure masks a striking divergence across China's industrial base. Per data released by the stats bureau (NBS), industrial profits grew 18.2% y/y during the first four months of 2026. Profit growth was… Read More »

China’s central bank (PBoC) is designing a new tool to manage liquidity shortfalls in the bond market. In his June 17 speech at the Lujiazui Financial Forum, PBoC Governor Pan Gongsheng said the facility will: “Provide emergency liquidity to non-bank… Read More »

Total fiscal expenditure fell 3.9% y/y in May, marking the third consecutive month of decline (MoF). ICYDK: China maintains four budgets, but only two have a meaningful impact on government spending on a month-to-month basis. The general public budget is the… Read More »