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Steps Toward A Solution For Property

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Steps Toward A Solution For Property

Andrew Batson, Rosealea Yao, Xiaoxi Zhang
20 May 2024
Commodity prices and developer stocks rallied on Friday on the announcement of multiple new property policies. Andrew, Rosealea and Xiaoxi argue that while it’s not a bailout, the package does represent a significant evolution in the government’s response to the property crisis. The solution isn’t here yet, but the chances of a solution actually arriving are now much higher.
The Foreign-Domestic Demand Divergence

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The Foreign-Domestic Demand Divergence

Wei He, Dragonomics Team
17 May 2024
Exports mostly propelled China’s economic growth in April, as domestic demand slowed in several sectors. Wei and the Dragonomics team argue that external demand will probably continue to support economic growth in the coming months, while new policy initiatives to boost demand create upside risk, especially in the property sector.

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Webinar: Currency Stresses

Will Denyer, Cedric Gemehl, Udith Sikand, Wei He
16 May 2024
The policy approaches of major economies are diverging, leading to unstable currency markets with more than a hint of beggar-thy-neighbor at work. Our team of country specialists seek to explain what comes next.

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Video: The Economics Of A No-Limits Partnership

Yanmei Xie
16 May 2024
Vladimir Putin visited Beijing this week a few weeks after senior US officials were in town to berate Chinese policymakers over their alleged supply of “dual-use” products to Russia. Chinese sales of machine tools, industrial widgets and microchips are reportedly key to Russia’s reinvigorated weapons production program but Xi Jinping is likely to preside over a relatively cautious approach to the trade.

Featured report

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Macro Update: Supply Outpaces Demand

Andrew Batson, Dragonomics Team
26 Apr 2024
China’s growth has stabilized but its imbalances remain. Prices are falling, inventories are rising, capacity utilization is low and hiring is weak. The government’s strategy of prioritizing supply over demand risks entrenching this dynamic. In our quarterly chartbook, the Dragonomics team breaks down the latest economic developments and reviews the implications.

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The Endgame For China’s Excess Capacity
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Andrew Batson
Steel Exports Become A Problem
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Rosealea Yao
The Limits To Renminbi Depreciation
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Wei He
The Travel Boom Normalizes
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Ernan Cui
Webinar: China's Property Puzzle
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Rosealea Yao, Xiaoxi Zhang, Christopher Beddor
The Upside Potential For Offshore Chinese Stocks
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Thomas Gatley
China Shows Some Policy Flexibility
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Andrew Batson, Wei He
Macro Update: Supply Outpaces Demand
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Andrew Batson, Dragonomics Team

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Securing The Western Frontier

Tom Miller
16 Dec 2021
China looks like a winner from the US withdrawal from Afghanistan, now free to tighten its grip on Central Asia. In this DeepChina report, Tom explains the complex reality of the latest round of the "great game." China is getting closer to Russia, skeptical of Afghanistan and Pakistan, and consolidating its economic hold on Turkmenistan.

Stocks

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A User's Guide To The Chinese Stock Market

Thomas Gatley
2 Apr 2019
China’s onshore equity markets are now large and accessible enough that they can no longer be ignored by foreign investors—but idiosyncratic enough that they are hard to understand. This in-depth DeepChina report explains the fundamentals: What is there to invest in? Who owns the market? How can foreigners invest? How is the market regulated?

Bonds

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A User's Guide To The Chinese Bond Market

Wei He, Xiaoxi Zhang
30 Jun 2021
The expansion and opening of China’s onshore renminbi bond market is one of the biggest changes to the structure of global financial markets in recent years, one that investors are still grappling with. In this comprehensive 30-page DeepChina report, our analysts present a guide to the nature and functioning of this important market.

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Behind The Incredible Export Boom

Thomas Gatley
Chinese export growth ostensibly continues to outpace the rest of the world this year, but Thomas believes this could in part be due to misleading data. Exporters have been incentivized to reduce their under-invoicing, which has in turn materially inflated China’s export growth over the past three years.

Managing Covid

The Chinese Consumer In 2023
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The Invisible Second Wave
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Shanghai Seminar — April 2023
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The Reopening Recovery Is On Track
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Macro Update: Reversal, Reopening, Recovery
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Webinar: China’s Covid Surge And The Reopening Rally
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