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Assessing the latest RRR cut

Mainland economists assess the implications of the central bank’s latest RRR cut.

23 April 2015

A reassuring statement of intent

Beijing’s 100bp cut to banks’ reserve requirement ratios suggests a recognition that it needs to take a more proactive approach to relaxing credit conditions.

23 April 2015

Further RRR cut to provide additional support

China’s 100bp cut to its reserve requirement ratio (RRR) for commercial banks signals a further attempt to boost credit growth and stabilise the economy, in line with our expectations. With key shadow finance asset classes continuing to contract in March, there is room for further overall loosening measures to support this stabilisation in economic growth.

20 April 2015

Positive signs amid gloomy March data

GDP growth slowed in 1Q15 and economic activity weakened further in March. However, signs of a recovery in the housing market and more aggressive government spending reinforce our view that China’s slowdown may be nearing the bottom.

15 April 2015

PPP to the rescue?

Our surveys of 39 existing public-private partnership projects and 26 investors highlight the challenges Beijing may face in developing this as a new funding model for infrastructure projects.

09 April 2015

Shifting policy gear

Recent policy developments suggest that Beijing is moving to combat some of the emerging risks in the economy

09 April 2015

Chinese exporters report stronger activity in March

Chinese exporters recorded stronger activity on both a MoM and a YoY basis in March, according to China Confidential’s latest survey of 200 export manufacturers, trading companies and shipping agents across the country. Exporters reported stronger shipments to most major destinations, while new orders and the outlook also improved.

07 April 2015

March labour demand shows strong rebound

Labour demand and overtime rebounded sharply after the Chinese New Year holiday, according to our latest survey of 285 companies nationwide. In contrast to previous surveys, manufacturers reported strong hiring demand due to rising orders as well as increased overtime, while service-sector demand remained robust. However, blue-collar wage growth slowed, particularly in eastern and southern coastal regions.

02 April 2015

Signs of recovery amid further weakness in China in March

Despite continued weak freight activity and a slowdown in discretionary spending growth, the results of our proprietary surveys offered signs of recovery in some important areas of the economy in March. Real estate developers reported a sharp rise in home sales and prices, exporters reported robust growth, labour demand rebounded sharply, while consumer confidence in the state of the overall economy recovered from an 18-month low.

31 March 2015

Chinese perspectives on the AIIB

Leading Chinese commentators and academics give their views on the significance of the newly formed, China-led Asian Infrastructure Investment Bank.

26 March 2015

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