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.
- China’s residential market flagged again in October, despite the new homebuyer incentives since August.
- Developer funding shows little sign of turning around, as worries over debt issues are prevailing.
- The reported affordable-housing programme likely will fall short of the shantytown redevelopment boost.
Duncan WrigleyChina+
- China's lending rates on hold as fiscal policy takes the leading role
Duncan WrigleyChina+
- China's lending rates on hold as fiscal policy takes the leading role
Duncan WrigleyChina+
- Japan’s Q3 real GDP was weaker than expected, due to slower inventory growth and a rising deflator.
- Private domestic demand remains sluggish, with consumption and investment missing expectations.
- Interest rates will be kept low for longer, effectively delaying the end of the negative rate policy to Q2.
Kelvin Lam (Senior China+ Economist)China+
- Japan’s export growth moderated in October on softer demand from key markets
- China’s house price fall steepened in October, with renewed price fall observed in tier-one cities
Kelvin Lam (Senior China+ Economist)China+
- China’s domestic demand rose at a sluggish pace in October, while production grew faster.
- Upticks in retail sales of autos and mobile phones are bright spots.
- The PBoC injected RMB600B of MLF funds yesterday, enabling government-bond issuance.
Duncan WrigleyChina+
- Chinese domestic demand is buttressed by fiscal support
- Japan's weak Q3 GDP adds to the BoJ's headaches
Kelvin Lam (Senior China+ Economist)China+
- China’s exports extended their downward trend inOctober, due to weak G7 and regional demand.
- That said, real export demand for certain goods remains healthy, taking price effects into account.
- The good news is that imports rose unexpectedly, likely on rising stimulus-related demand.
Kelvin Lam (Senior China+ Economist)China+
- China’s credit expansion was lukewarm in October, apart from government-bond issuance.
- The slump in net household long-term loans exaggerates the weakness in the residential market.
- China is likely to rely on fiscal stimulus to stabilise growth, giving sentiment time to rebuild.
Duncan WrigleyChina+
- Stepped-up government bond issue stabilises credit growth against property sector downdraft
Duncan WrigleyChina+
- Chinese auto sales picked up in October, in a positive sign for consumer demand....
- ...But sluggish sentiment and a still-high savings rate point to a tepid recovery in 2024.
- Producer prices fell in October, due to excess capacity and soft demand, at home and abroad.
Kelvin Lam (Senior China+ Economist)China+
- China resumes consumer price deflation in October and is dragged down by food and core prices
- Producer prices fall at a faster pace, thanks to volatility in global energy and commodity prices
Kelvin Lam (Senior China+ Economist)China+
- Producer prices fall at a faster pace, thanks to volatility in global energy and commodity prices
Kelvin Lam (Senior China+ Economist)China+
- China FX reserves fall for the third straight month as capital outflow continues
Kelvin Lam (Senior China+ Economist)China+
- China saw a smaller decline of $13.8B in its FX reserves, to $3,101B, in October...
- ...Thanks to a less significant valuation effect and lower capital outflows via the Stock Connects.
- We expect capital outflows to moderate in Q4 as fundamentals strengthen on stimulus measures.
Kelvin Lam (Senior China+ Economist)China+
- Falling Chinese exports indicate weak global demand; Japanese wages pick up slightly
Kelvin Lam (Senior China+ Economist)China+
- Shenzhen’s backing for Vanke offers a possible blueprint for resolving Chinese developers’ issues...
- ...But only a few private developers are truly similar to Vanke, leaving many firms in a grey area.
- Japan’s wage growth picked up in October, mainly due to a downward revision of September’s data.
Duncan WrigleyChina+
- Korean exports rose in October for the first time in over a year, despite the sub-50 export order PMI.
- The rebound in chip exports is due to downstream restocking, while end-product demand is unclear.
- China’s October services PMI slowed, after the summer tourism and leisure activity bump.
Duncan WrigleyChina+
- China's services sector rebound is stalling
Duncan WrigleyChina+