24 June 2026 China+ Monitor PBoC less likely to cut interest rates, given China's industrial transition

• PBoC Governor Pan isn’t worried about weak loan growth, as it stems from industry’s structural transition.
• Outstanding loans to the old economy are shrinking; the economy now uses bond and equity funding more.
• Proposed interest rate reforms are intended to improve the signalling mechanism and policy transmission.

CHINA+ DATA WRAP 22 June 2026: Korea's exports are flying thanks to chip sales

In one line: Korea's exports continue to surge thanks to chip shipments, notably soaring prices

CHINA+ DATA WRAP 19 June 2026: BoJ signalling scope for faster rate hikes

In one line: Consumer inflation was flat at 1.4% in May, but producer inflation jumped. Deputy Governor Himono warns that inflation could overshoot the 2% target. 

22 June 2026 China+ Monitor BoJ signals its readiness to speed up rate hikes

• The BoJ is paying more attention to the 6.3% rise in May producer inflation than subdued consumer inflation.
• Deputy Governor Himono signalled a faster pace of rate hikes, given likely faster cost pass-though to CPI.
• This makes a September or October rate increase more likely than December.

CHINA+ DATA WRAP 16 June 2026: China's domestic demand spluttering

In one line: Retail sales weakened further; FAI data plagued by falsification issues again; Industrial output supported by exports

17 June 2026 China+ Monitor Retail sales hit by trade-in subsidy hangover amid sluggish demand

• China’s May retail sales dropped 0.6%, the worst since December 2022, reflecting trade-in subsidy payback.
• Fixed-asset investment still appears weak, but the data are plagued by another round of falsification issues.
• Manufacturing output is being propped up by exports; but further targeted support for demand is likely in July.

16 June 2026 China+ Monitor China's fiscal deposit drawdown points to construction rebound

• The BoJ could raise the policy rate at today’s meeting, going by a news report and less war uncertainty.
• China’s PPI rebound is a cost-push story; reflation pace is likely to ease a tad as a peace deal is struck.
• Given positive changes in both consumer and producer prices so far, Q2’s GDP deflator might now be positive.

15 June 2026 China+ Monitor China's fiscal deposit drawdown points to construction rebound

• China’s broad credit growth slowed further in May, indicative of sluggish credit demand.
• The fiscal deposit drawdown points to construction activity likely rebounding in May.
• The producer inflation rise is cost-push and unlikely to turn into high consumer inflation, given weak demand.

12 June 2026 China+ Monitor Chinese satellite data point to persistent softness in May activity

• Chinese satellite imagery concurs with April’s activity slump, with urban luminosity falling on an annual basis.
• May’s activity data are likely to stay weak, weighed down by soft domestic demand, though better than April.
• Fiscal deposit deployment may support May’s FAI, while spending faces payback effects from trade-in policies.

CHINA+ DATA WRAP 9 June 2026: China's buoyant trade driven by AI boom

In one line: Shipments of integrated circuits and computers main drivers of export growth
Crude oil import volume falling

10 June 2026 China+ Monitor Chinese exports enjoy knock-on effects from AI boom

• China’s May export growth surged on the back of chip exports, largely thanks to higher prices.
• Shipments to non-traditional markets are more than offsetting falling trade with the US.
• Oil import volumes dropped again, as refiners responded to crushed margins by curbing output.

CHINA+ DATA WRAP 8 June 2026: Strong trade surplus likely offsets valuation drag on China's FX reserves

In one line: Strong trade surplus likely offsets valuation drag on China’s FX reserves

CN Datanote: RatingDog Services and Composite PMIs, China, May

In one line: China’s RatingDog composite PMI signals faster Q2 GDP growth; services PMI lifted by holiday demand

CN Datanote: Whole Economy PMI, Hong Kong, May

In one line: Hong Kong PMI partially recovers on Golden Week tourism demand and construction.

CN Datanote: Exports, Korea, May

In one line: Korea’s WDA export growth accelerates further on rising chip demand. 

CN Datanote: RatingDog Manufacturing PMI, China, May

In one line: China’s RatingDog PMI reinforces NBS evidence of softer industrial production and export growth in May

CN Datanote: Manufacturing PMI, Korea, May

In one line: Korea’s manufacturing activity hit a 5 year high on precautionary stock-building

CN Datanote: Official NBS Non-Manufacturing PMI, China, May

In one line: Holiday services demand lifts China's non-manufacturing activity, while construction activity recovers slightly

CN Datanote: Official NBS Manufacturing PMI, China, May

In one line: China’s official PMI weighed down by May holiday disruption and payback from March’s overshoot.

CHINA+ DATA WRAP 5 June 2026: Japan's steady wage growth

In one line: Regular wage growth rose above 3% for three straight months
Consumption activity rebounded in April