Chinese credit data for May surprised to the upside. New total social financing rebounded to RMB 2.79 trillion from 0.91 trillion in April. Similarly, loans extended by banks nearly tripled to 1.89 trillion. However, these…
Chinese exports rebounded in May, surging by 16.9% y/y in dollar terms following 3.9% in the previous month. Imports also firmed 4.1% year-on-year after being flat in April. Both export and import growth surpassed market…
According to BCA Research’s China Investment Strategy service, China’s investment focus is shifting from traditional infrastructure to new economy infrastructure. They expect new infrastructure investment in tech and…
Investor sentiment towards Chinese equities appears to be improving. The CSI 300 Index, which tracks the performance of the largest stocks traded on the Shanghai and Shenzhen bourses, is up 9% in USD terms from its May 9 low. The…
Listen to a short summary of this report. Executive Summary Chinese Stocks Are Relatively Cheap The Chinese economy faces a trifecta of economic woes: 1) The threat of renewed Covid lockdowns; 2)…
Executive Summary What Will Be The Implications Of China’s Common Prosperity Policies? On the one hand, Chinese stocks are oversold, equity valuations are attractive and investor sentiment is downbeat. This means that a lot…
Executive Summary What Will Be The Implications Of China’s Common Prosperity Policies? On the one hand, Chinese stocks are oversold, equity valuations are attractive and investor sentiment is downbeat. This means that a lot…
Executive Summary EU Embargoes Russian Oil The EU imposed an embargo on 90% of Russian oil imports, which will provoke retaliation. Russia will squeeze Europe’s economy ahead of critical negotiations over the coming 6-…
Chinese PMIs from the National Bureau of Statistics surprised to the upside on Tuesday. The services PMI rose from 41.9 to 47.8 in May, exceeding expectations of 45.5. Similarly, the manufacturing PMI increased from 47.4 to 49.6…