Gavekal Dragonomics

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Webinar: Who Owns China Inc.?

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Webinar: Who Owns China Inc.?

Thomas Gatley
30 Sep 2022
Thomas Gatley discussed his in-depth research into who owns China’s listed firms and answered viewer questions. Over the past decade a new hybrid form of ownership has emerged, which arguably represents the corporate form best adapted to succeed in China’s state capitalist economy. But there are risks to this new model.
Property Support Is Not Getting Traction

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Property Support Is Not Getting Traction

Rosealea Yao
29 Sep 2022
Officials have announced several new policies over the past couple months in an attempt to stem the property-market downturn. Rosealea argues the data so far indicate homebuyers are not responding significantly to these measures, probably because the steps are not enough to ensure presold homes will be completed and thus revive market confidence.

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Urbanization In The Pandemic

Rosealea Yao, Ernan Cui, Andrew Batson
27 Sep 2022
China’s housing market faces many problems, but among the biggest is a sharp slowdown in urban population growth caused by Covid disruptions. Rosealea, Ernan and Andrew argue that whether and how quickly this growth can return to previous trends will have a major impact on housing demand in the next few years.

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The Renminbi Plays Defense

Wei He
27 Sep 2022
The global surge in the US dollar is claiming victim after victim, and China has not escaped. It is quite likely that in coming days or weeks the renminbi will fall further to set a new post-2008 low against the dollar. How will the People’s Bank of China deal with this powerful market trend?

Featured report

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Macro Update: Confidence Crumbles

Dragonomics Team
26 Jul 2022
China has mostly reopened from the latest wave of mass lockdowns, and manufacturing is back online. But household consumption is subpar and confidence is poor, while the property sector is undergoing its deepest downturn since 2008. In our latest quarterly chartbook, the Dragonomics team explains the changing outlook for the economy and markets.

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Video: Opening To What?
Vincent Tsui
Manual Override For Deposit Rates
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Xiaoxi Zhang
Webinar: Into Europe's Winter Of Discontent
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Cedric Gemehl, Nick Andrews
An Early Lead In Hydrogen
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Dan Wang
A Transitory Growth Acceleration
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Dragonomics Team
Webinar: China's Economic Troubles Mount
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Rosealea Yao, Ernan Cui
Don’t Bank On A Russia-China Payments Alliance
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Yanmei Xie
Leveraging Up Is A Question Of How, Not If
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Wei He

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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

Video: Opening To What?
Webinar: China's Economic Troubles Mount
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The China Inc. Annual Report 2022
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Webinar: Global Investment Roundtable, June 2022
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Webinar: Is The Worst Over For China?
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Macro Update: Growth Interrupted
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