
More recent developments

Central SOEs may step in to accelerate property buybacks
The central government may finally intervene to rev up the slow-moving property buyback scheme. Per Bloomberg, citing anonymous sources, regulators will soon mobilize central state-owned enterprises (SOEs) – including bad-debt manager Cinda – to acquire unsold properties from distressed developers.… Read More »

Auto and catering sales dragged on consumption in July
Cars and restaurants are mainly to blame for July’s consumption slowdown. Per data released by the stats bureau (NBS): Retail sales of consumer goods grew 3.7% y/y in July, the slowest rate of expansion since December 2024 Retail sales of… Read More »

Economic activity slows in July
Economic activity slowed significantly throughout July. Per data released by the stats bureau (NBS) on Friday: Industrial value-added (IVA) grew by 5.7% y/y, down from 6.8% the previous month Fixed asset investment (FAI) contracted 5.3% y/y, deepening from June’s 0.1%… Read More »