PM Datanote: Money & Credit, China, April

In one line: rise in fiscal deposits likely points to temporary building activity disruptions due to severe weather.

CN Datanote: Exports, China, March

In one line: China trade surplus hit by soft exports and hi-tech driven imports

PM Datanote: RatingDog Services PMI, China, March

In one line: China’s RatingDog services PMI cools on payback effect, wither employment softening

CN Datanote: CPI, China, March

In one line: China CPI: Post LNY decline less pronounced as energy contribution rises 

CN Datanote: PPI, China, March

In one line: China ends 41-month of PPI deflation as war-driven energy spike lifts prices

CN Datanote: PPI, China, April

In one line: China’s PPI jumps on energy shock as war-driven reflation accelerates

CN Datanote: CPI, China, April

In one line: China’s CPI surprises to the upside as energy inflation accelerates in April

CN Datanote: Exports, China, April

In one line: China trade surplus rebounds as tech demand outweighs war-driven energy shock

CN Datanote: Foreign Reserves, China, April

In one line: China’s reverse jump in reserves reflects changes in market risk appetite

CN Datanote: RatingDog Services PMI, China, April

In one line: China’s RatingDog services PMI lifted by domestic demand on new product launches and innovation

CHINA+ DATA WRAP 30 April 2026: Manufacturing sector resilient to energy shock

In one line: China's manufacturing sector holds up well in April; Services slows after the holiday boost; Construction PMI drop is puzzling

1 May 2026 China+ Monitor China's April manufacturing PMIs hint at front-loading by exporters

• China’s manufacturing PMIs held up well in April, despite the disruption from the war in the Middle East.
• This resilience should continue in the near term, though exports are likely to slow as global demand fades.
• The weak construction PMI likely reflects bad weather; the infrastructure investment rebound should continue.

PM Datanote:Industrial Profits, China, March

In one line: Hi-tech and energy-related upstream sectors drive Chinese industrial profit growth higher in Q1

PM Datanote: Loan Prime Rates, China, April

In one line: China’s LPR steady in April amid NIM pressure

29 April 2026 China+ Monitor Governor Ueda's attempt to 'thread the needle' leaves currency exposed

• The BoJ held the policy rate steady at 0.75% yesterday, amid uncertainty in the Middle East.
• Governor Ueda’s mixed message on policy direction could invite speculation on USDJPY.
• We think a June rate hike is still on the table, as long as prospects for a lasting ceasefire have improved by then.

28 April 2026 China+ Monitor Q1 industrial profits extend strong gains, led by high-tech and energy

• China’s industrial profits rose in Q1 on lower costs and higher revenues from precautionary front-loading.
• Producer reflation supported the rise, but was more evident in metals and upstream energy sectors.
• Profit growth will face pressure from war-related costs, fading front-loading and weak domestic demand.

April 2025 - China+ Chartbook

• - CHINA'S Q1 GROWTH SPURT COULD BE HIGH-WATER MARK
• - BOJ WILL LIKELY HOLD POLICY RATE AT APRIL'S MEETING
• - KOREA'S CHIP EXPORT RISE OFFSETS OIL IMPORT BILL

21 April 2026 China+ Monitor China rates steady on NIM pressure; ample liquidity cushioning growth

• China’s LPRs and de-facto policy rate were unchanged in April, amid pressure on banks’ margins.
• Banks started a new round of deposit-rate cuts, given the liquidity glut in the system from weak loan demand.
• The MoF is offering ultra-long special bonds at record levels, taking advantage of the risk-averse mood.

CHINA+ DATA WRAP 16 April 2026: Q1 GDP growth bump likely the high-water mark

In one line: China's lopsided Q1 GDP growth bump likely the year's high-water mark

17 April 2026 China+ Monitor All that glitters is not gold: China's flawed Q1 GDP print

• China’s GDP growth rose to 5.0% in Q1, but it was highly dependent on robust exports...
• ...Which are likely to slow as the oil price shock hits global growth.
• Real household spending slowed and underlying consumption activity remains sluggish.