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China+ Publications

Below is a list of our China+ Publications for the last 6 months. If you are looking for reports older than 6 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.

Kelvin Lam (Senior China+ Economist)

China+ Datanote: 20 Day Exports, Korea, February

In one line: Korean WDA exports are rebounding strongly in early February, led by semiconductor shipments

Kelvin Lam (Senior China+ Economist)China+

CHINA+ DATA WRAP 21 February 2024

Korean WDA exports rebound strongly; Japan stages double-digit export growth

Kelvin Lam (Senior China+ Economist)China+

22 February 2024 China+ Monitor North Asian exports benefiting from semiconductor 'up-cycle'

  • Korean 20-day export annual growth fell sharply in February, due to the holiday effect...
  • ...Working-day-adjusted data show exports actually increased, led by semiconductor shipments.
  • Japan’s exports rose in January due to base effects, tallying with the chip ‘up-cycle’ in Korean trade.

Kelvin Lam (Senior China+ Economist)China+

China+ Datanote: Current Account Balance, China, Q4

China’s current account surplus fell again in Q4, to just 1.5% of GDP

Kelvin Lam (Senior China+ Economist)China+

February 2023 - China+ Chartbook

  • - CHINA’S CREDIT DATA OFFER GLIMMERS OF HOPE
  • - TOKYO CORE INFLATION DIPS BELOW BOJ’S TARGET
  • - NEW PRODUCT LAUNCHES HELP LIFT KOREAN EXPORTS

Kelvin Lam (Senior China+ Economist)China+

16 February 2024 China+ Monitor Japan enters technical recession as Q4 GDP shrinks unexpectedly

  • Japan’s economy enters technical recession as it saw two successive quarters of negative growth.
  • Despite lacklustre domestic demand, growth was supported by nascent recovery in external demand.
  • BoJ is likely to remove negative rates in Q2 after the Shuntō wage rounds despite weak fundamentals.

Kelvin Lam (Senior China+ Economist)China+

12 February 2024 China+ Monitor Chinese pricing trends signal weak activity; ignore the holiday noise

  • The downward trend in China’s producer prices showed little sign of bottoming out in January.
  • Consumer prices rose for a second straight month in January, but holiday-period data are noisy.
  • A policy recalibration, rather than a major shift, to tackle weak demand is likely at the Two Sessions.

Kelvin Lam (Senior China+ Economist)China+

8 February 2024 China+ Monitor China's foreign reserves whiplashed by dollar strength and stock market

  • China’s foreign-exchange reserves reversed the rising trend and fell in January, thanks to a valuation effect.
  • The favourable external conditions that drove increases in Q4 have taken a breather.
  • We expect modest capital inflows in H2, thanks to narrowing interest rate differentials with the US.

Kelvin Lam (Senior China+ Economist)China+

CHINA+ DATA WRAP 5 February 2024

Caixin services PMI pointing to slower growth, while output prices are falling.

Japan’s service sector rosier than thought.

Kelvin Lam (Senior China+ Economist)China+

6 February 2024 China+ Monitor Caixin services PMI pointing to slower growth, while output prices are falling

  • China’s January Caixin services PMI fell short of market expectations and signalled slower growth.
  • Output prices fell for the first time in 21 months; firms are facing more market competition.
  • Japan’s service industry is expanding faster than expected, but growth is largely based on tourism.

Kelvin Lam (Senior China+ Economist)China+

China+ Datanote: Exports, Korea, January

In one line: Korea export growth remains resilient even on a WDA basis

Kelvin Lam (Senior China+ Economist)China+

30 January 2024 China+ Monitor China's industrial profits continue to improve amid slow economic recovery

  • Chinese industrial profits have been recovering on a year-to-date basis since August 2023...
  • ...On improvements in profit margins and industrial value-added, as well as easing producer deflation.
  • Industrial profits will likely benefit from further stimulus measures slowly trickling through in H1.

Kelvin Lam (Senior China+ Economist)China+

CHINA+ DATA WRAP 26 JANUARY 2024

Japan's Tokyo CPI Surprised on the Downside, Coming in Lowest in 22 Months

Kelvin Lam (Senior China+ Economist)China+

CHINA+ DATA WRAP 5 JANUARY 2024

Japan's Services PMI Reports Higher Domestic Demand in December

Kelvin Lam (Senior China+ Economist)China+

China+ Datanote: Caixin Manufacturing PMI, China, December

The volatile Caixin PMI is more optimistic than the official measure again

Kelvin Lam (Senior China+ Economist)China+

CHINA+ DATA WRAP 2 JANUARY 2024

The volatile Caixin PMI is more optimistic than the official measure again

Korea’s manufacturing activities steady in December

Korean export growth accelerates on a WDA basis 

Kelvin Lam (Senior China+ Economist)China+

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