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China+ Publications

Below is a list of our China+ Publications for the last 5 months. If you are looking for reports older than 5 months please email info@pantheonmacro.com, or contact your account rep

Please use the filters on the right to search for a specific date or topic.

CHINA+ DATA WRAP 26 September 2025: Tokyo headline inflation steady

Tokyo headline inflation steady, after launch of childcare subsidies





September 2025 - China+ Chartbook

  • - CHINA LIKELY TO LAUNCH INVESTMENT STIMULUS SOON
  • - BOJ SHOULD STILL HIKE, DESPITE POLITICAL RUCTIONS
  • - KOREA’S EXPORTS TUMBLE IN SEPTEMBER

China+ Datanote: LPR, China, September

In one line: China’s commercial banks keep LPR steady in September; PBoC wary of a buoyant equity market

China+ Datanote: 20-Day Exports, Korea, September

In one line: Korea’s September WDA exports plunge, led by US and China.

China+ Datanote: BoJ Decision, Japan, September

In one line: BoJ stays put on rates in September, starts ETFs and J-REITs offloading plan

CHINA+ DATA WRAP 24 September 2025: Japan's manufacturing weakening

Japan's flash PMIs reveal divergence between weakening manufacturing sector and resilient services activity




25 September 2025 China+ Monitor Japan's manufacturing sector yet to see tariff relief, despite US deal

  • Japan’s September flash PMIs reveal worsening manufacturing woes, despite lower US tariffs.
  • Services activity remains strong, even though extreme weather dented tourism activity.
  • We think the BoJ will hike the policy rate next month, though it will be a close call amid political risks.

23 September 2025 China+ Monitor Xi-Trump call: Trust rebuilding, finer TikTok details still being ironed out

  • Presidents Xi and Trump’s phone call last Friday to talk about trade paved the way for a summit in October.
  • Korean 20-day WDA exports fell sharply in September, thanks to weaker demand across most destinations.
  • Most Korean goods are still subject to higher tariffs than pre-Trump. We expect the BoK to cut in Q4.

22 September 2025 China+ Monitor The BoJ stands fast on policy rate, plans sales of stock ETFs

  • The BoJ held the policy rate steady on Friday, as broadly expected; but two dissenters wanted a hike.
  • We expect a 25bp hike in October, though it will be a knife-edge decision amid political and trade risks.
  • The Bank said it will offload its ETFs and Japan REITs but at a glacial pace to minimise market impact.

18 September 2025 China+ Monitor Hong Kong Policy Address fast- tracks Northern Metropolis

  • Hong Kong Policy Address proposes to strengthen technology ties with the mainland and boost growth.
  • Japan’s annual export growth fell for the fourth straight month, but monthly momentum improves.
  • BoJ will keep rates on hold this week, but we expect it to resume its rate hike cycle in late October.

17 September 2025 China+ Monitor China's tier-one cities enjoy modest uptick in property sales

  • China’s national residential market continues to fester, as policymakers stick with only targeted support.
  • Tier-one city sales are rising on the back of local easing but national sales are still falling.
  • More national-level support is likely to be needed to stabilise the market, notably in lower-tier cities.

16 September 2025 China+ Monitor China's ailing domestic demand likely to prompt targeted support

  • China’s August activity data pointed to a broad cooling, especially in domestic demand.
  • Fixed-asset investment weakened further, making RMB500B in policy bank funding tools likely.
  • Prospects are rising for another round of coordinated targeted stimulus, possibly at the end of September.

China+ Datanote: Money & Credit, China, August

In one line: lacklustre broad credit growth, excluding government bonds

CHINA+ DATA WRAP 15 September 2025: China's August broad activity cooling

In one line: China's August broad activity cooling likely to prompt additional targeted support



15 September 2025 China+ Monitor China's dull credit growth points to still sluggish investment

  • China’s broad credit growth slowed slightly in August, with seemingly dull private sector credit demand.
  • Rising M1 growth is a probably a sign of funds returning from the bond market.
  • No smoking gun yet in terms of fund leakage into the stock market via unofficial channels.

China+ Datanote: FX Reserves, China, August

In one line: Valuation effects lift China’s FX reserves in August; expect them to drive reserves higher in H2

China+ Datanote: Exports, China, August

In one line: China exports slow on low-tech weakness; US, Africa and LatAM slump offsets ASEAN strength

China+ Datanote: Wages, Japan, July

In one line: Japan's real wage turned positive for the first time in seven months, paving the way for an October BoJ hike.

China+ Datanote: Flash Services PMI, Japan, August

In one line: Japan’s private sector activity posts its fastest rise since February, with broad based services and manufacturing improvements.

China+ Datanote: Flash Mfg PMI, Japan, August

In one line: Japan’s flash manufacturing PMI nears 50, boosted largely by domestic demand.

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Keywords for: China+ Documents

independent macro research, China+ Document Vault, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence,