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The Shift To Rentals

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The Shift To Rentals

Rosealea Yao
28 Jun 2022
Subsidized rental units could over the coming years make up nearly half of total new home starts in cities such as Shanghai and Shenzhen. Rosealea argues the program is unlikely to deliver a big boost to slumping construction activity, but it is clear that such rentals are central to officials’ long-term plans for reshaping the housing market.
Webinar: A Worsening Growth Outlook

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Webinar: A Worsening Growth Outlook

Tan Kai Xian, Nick Andrews, Thomas Gatley, Vincent Tsui
23 Jun 2022
Between rampant inflation, rising interest rates and high energy prices, the risk of recession is growing on both sides of the Atlantic. China may be stimulating its economy, but could get stuck in a liquidity trap. In this webinar our team assessed growth prospects across the world's major regions.

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Private Borrowers Hold Back

Xiaoxi Zhang
22 Jun 2022
Private-sector credit growth accelerated to 8.8% in May from 8.6% in April. But Xiaoxi argues that the structure of credit growth shows weakness in demand, which is now coming from the mass of private-sector borrowers. Private corporate and household demand for credit is likely to remain poor until the economic outlook stabilizes.

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Steelmakers Gamble On A Comeback

Rosealea Yao
20 Jun 2022
China’s steelmakers have ramped up output since late last year and continued to expand production even after lockdowns started in March. Rosealea argues that unless the real-estate sector mounts a stronger rebound soon, the tension between high output and weak demand will have to be resolved with lower prices, big cutbacks in production, or both.

Featured report

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The China Inc. Annual Report 2022

Thomas Gatley
3 Jun 2022
China’s companies are facing a new shock to growth from renewed lockdowns in 2022, along with weakening global demand and higher costs. How prepared are they to deal with this latest wave of disruption? In his annual chartbook, Thomas assesses the fundamentals of China’s corporate sector through a detailed examination of income statements and balance sheets.

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After The Regulatory Storm
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Ernan Cui
A Lopsided Recovery Begins
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Dragonomics Team
Plugging The Fiscal Gap
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Wei He
Biden Tightens The Screws, Carefully
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Dan Wang, Thomas Gatley
Caution On China’s Reopening Rally
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Thomas Gatley
Will Shanghai Ever Be The Same?
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Dan Wang
The China Inc. Annual Report 2022
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Thomas Gatley
Webinar: Global Investment Roundtable, June 2022
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Will Denyer, Nick Andrews, Christopher Beddor, Vincent Tsui

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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 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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Reopening In Slow Motion
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Lockdowns Take A Bite
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