China Economy

The Chinese depression rolls on. Here’s the data wrap from Goldman. January-February activity data generally came in stronger than market expectations, although the magnitude of beat was modest. Industrial production (IP) growth moderated to 5.9% yoy in January-February from 6.2% yoy in December, faring much better than export growth which fell meaningfully in January-February.

Chinese credit for February failed to launch with Total social financing up another measly 0.2% to 8.2% yoy.

I posted two charts on Thursday showing the monumental task of transitioning Australia off fossil fuels.

Via Goldman, the headline numbers and deficit breakdown.

Credit Agricole lists the top ten priorities of the new yawnulus package.

I do love a Michale Hartnett sweeping generalisation but this one got my goat. The Price is Right: China house prices on rise, up in 24 of 70 big cities in Jan (Chart 5); if China retail sales accelerate>6%YoY =global investors go long China (not just BATX 2 stocks).

Chinese house prices are bouncing along the bottom.

You’ve just got to love China.

You probably can centrally plan sex, but China sure doesn’t know how to do it.

China is out of deflation!

Emperor Xi and his CCP cronies have discovered a new and exciting way of pretending that the Chinese economy is rebalancing to consumption: vouchers.

The Chinese property slowdown is back, led by lower-tier cities.

Much of the Western World is rapidly deindustrialising to meet ‘net zero’ emissions targets.

In the last couple of weeks, the recovery in China’s primary property market has slowed.

Goldman with the note. We invited Mr. Xin Zeng Meng (Senior Researcher at China Index Holdings Limited) to discuss recent observations on the China property market and his views on the policy outlook.

Goldman with the details. December total social financing (TSF) flows and new RMB loans came in above market expectations. Total social financing (TSF flow, reported): RMB 2858bn in December, vs.

If you want to know why China is no longer able to stimulate its economy the way it once did via property and infrastructure, look no further than land sales, which are running at post-GFC levels.

Bloomberg loves a good old Chinese booster.

Chinese inflation has turned into a game of Where’s Wally?

There is some good news about Chinese property.

The Chinese deflationary crash rolls on unabated.

Chinese realtors are feeling less sick.