Pantheon Macroeconomics

Best viewed on a device with a bigger screen...

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.

1 July 2025 China+ Monitor PBoC signals less urgency for policy support as PMIs improve

  • The PBoC on Friday hinted it saw less need for a near- term monetary policy boost than three months ago.
  • The June official manufacturing PMI improved, thanks to policy support and an easing in tariff tensions.
  • The construction PMI ticked up at last, but it’s too soon to celebrate; the hard data pointed to slowing.

Duncan WrigleyChina+

CHINA+ DATA WRAP 30 June 2025: China's official manufacturing PMI rises

China's Official PMIs point to improving manufacturing and construction activity, but weak jobs market

Duncan WrigleyChina+

CHINA+ DATA WRAP 27 June 2025: Tokyo inflation cools thanks to energy subsidies

Tokyo inflation cools thanks to energy subsidies restart
China's industrial profits hit by slower investment income and weak demand

Duncan WrigleyChina+

30 June 2025 China+ Monitor BoJ to sit tight as stagflation risk rears its ugly head

  • The fall in Tokyo inflation in June was largely due to energy subsidies kicking in again.
  • The BoJ will probably stay put on interest rates, given sluggish growth and trade risks...
  • ...Assuming oil prices are reasonably well behaved; markets appear sanguine about geopolitical risk.

Duncan WrigleyChina+

China+ Datanote: Flash Manufacturing PMI, Japan, June

In one line: Japan's manufacturing PMI rebound on stockpiling activity, but domestic demand softens

Kelvin Lam (Senior China+ Economist)China+

China+ Datanote: Flash Services PMI, Japan, June

In one line: Japan's services business activity grow faster in June, but slowing input cost increase bode ill for wage growth

Kelvin Lam (Senior China+ Economist)China+

China+ Datanote: Preliminary Current Account, China, Q1

In one line: China’s current account balance holds up in Q1, but deterioration likely in Q2.

Kelvin Lam (Senior China+ Economist)China+

China+ Datanote: Preliminary GDP, Japan, Q1

In one line: Japan’s GDP shrinks for the first time in a year, reinforcing the BoJ's wait-and-see stance.

Kelvin Lam (Senior China+ Economist)China+

China+ Datanote: 20 Day Exports, Korea, June

In one line: Korea's 20-day exports rebound in June on front loading ahead of reprieve expiry

Kelvin Lam (Senior China+ Economist)China+

China+ Datanote: National CPI, Japan, May

In one line: Japan's core inflation surprised on the upside, but unlikely to sway BoJ into hiking mode

Kelvin Lam (Senior China+ Economist)China+

25 June 2025 China+ Monitor Japan's flash PMIs reveal areas of resilience amid tariff storm

  • Japan’s June headline flash manufacturing index was lifted by output, but demand remained subdued.
  • Cost pressures are easing only slowly, with global oil prices a key risk.
  • The service sector continues to be bolstered by tourism, notably surging Chinese visitor numbers.

Duncan WrigleyChina+

24 June 2025 China+ Monitor Temporary export surge belies US-Korea trade frictions

  • Korea’s 20-day export growth rebounded, likely supported by stockpiling as the US’s deadline nears.
  • Shipments to the US, EU and Taiwan were the main drivers, while chip exports were strong in June.
  • The trade-talk logjam continues; we expect the grace period to be extended, allowing more negotiating time.

Kelvin Lam (Senior China+ Economist)China+

China+ Datanote: Loan Prime Rates, China, June

In one line: China's commercial banks hold benchmark lending rates steady in June

Kelvin Lam (Senior China+ Economist)China+

China+ Datanote: BoJ Decision, Japan, June

In one line: BoJ slowed tapering pace for next fiscal year but stood pat on policy rates in June

Kelvin Lam (Senior China+ Economist)China+

June 2025 - China+ Chartbook

  • - CHINA’S FLAGGING GROWTH TO PROMPT POLICY TWEAKS
  • - BOJ OPTS FOR PRAGMATIC MIDDLE PATH ON BOND-BUYING
  • - BOK LIKELY TO EASE, DESPITE CURRENCY WORRY

Kelvin Lam (Senior China+ Economist)China+

23 June 2025 China+ Monitor Japan's inflation still elevated, largely due to food inflation

  • Japan’s headline national consumer inflation inched down in May, with energy inflation cooling.
  • The new rice distribution system is star ting to yield results, but rice prices are still double the target range.
  • The BoJ is likely to sit tight on interest rates this year, given the impact of higher US tariffs.

Duncan WrigleyChina+

CHINA+ DATA WRAP 19 June 2025: Japanese exports fall

Japanese exports fall as US tariff hikes slam auto shipments

Duncan WrigleyChina+

CHINA+ DATA WRAP 17 June 2025: Japanese exports fall

Japanese exports fall as US tariff hikes slam auto shipments

Duncan WrigleyChina+

19 June 2025 China+ Monitor Japanese auto exports bear the brunt of US tariff hikes

  • Japan’s exports fell in May for the first time since September, hit by US tariff hikes.
  • Still, exports held up better than the market expected, as exporters cut prices and shipments to the EU rose.
  • The bond market faces risks from July’s upper house election, despite the BoJ’s supportive policy tweak.

Duncan WrigleyChina+

18 June 2025 China+ Monitor BoJ pares back the reduction of its JGB purchases from next April

  • The BoJ left policy rates unchanged in June, while scaling back its tapering of bond-buying next year…
  • …Likely due to bond-market volatility, the stalemate in trade negotiations and tensions in the Middle East.
  • We expect the Bank to continue pausing its rate-hiking cycle in the near term as Japan’s economy weakens.

Kelvin Lam (Senior China+ Economist)China+

  Publication Filters

Change View: List   Small Grid  

Filter by Keyword

Filter by Region

Filter by Publication Type

Filter by Date
(6 months only; older publications available on request)

  Quick Tag Filters
Consistently Right
Access Key Enabled Navigation
Keywords for: China+ Documents

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