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China, China, China!

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China, China, China!

#1
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China’s Oct trade balance (CNY): Exports and imports jump – a big beat

China's trade balance for October, in Yuan terms, came in at CNY 233.63bn versus CNY 237bn expected and CNY 213.23bn last. Exports came at +20.1% y/y vs. +12.0% expected and +17.0% last, while imports were +26.3% y/y vs. +14.0% expected and +17.4% last.

Analysts at Nomura expected, “export growth to moderate, but remain relatively solid at 13.0% y-o-y in October after higher-than-expected growth in September. Import growth is likely to slow more visibly.”

Key Notes:

In Yuan terms, exports to the US are up 8.7% y/y (whole YTD, Jan - Oct 2018).

Imports from the US +3.7% y/y for that same period.

Source: https://www.fxstreet.com/news/chinas-oc ... 1811080305
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China's producer prices rise 2.7 pct in November

#3
China's producer prices rise 2.7 pct in November

China's producer price index (PPI), which measures costs for goods at the factory gate, rose 2.7 percent year on year in November, the National Bureau of Statistics (NBS) said Sunday.

The growth has narrowed for five consecutive months.

The carryover effect contributed 0.8 percentage points to the PPI growth, while new factors contributed 1.9 percentage points, the NBS statistician Sheng Guoqing said.

The prices of the means of production rose 3.3 percent year on year, contributing 2.47 percentage points to the PPI growth in November.

Of major industrial sectors, producer prices in the sectors of oil and natural gas exploitation, processing of oil, coal and other fuels, chemical raw materials and products, ferrous metal smelting and processing saw slower growth in November compared with the previous month. The above four sectors dragged down PPI growth by 0.74 percentage points year on year.

On a monthly basis, the PPI edged down 0.2 percent.

For the first 11 months, producer prices at the factory gate rose 3.8 percent from the same period last year.

The data also showed the consumer price index, or CPI, a main gauge of inflation, rose 2.2 percent year on year in November, down from 2.5 percent in October.

Source: http://www.xinhuanet.com/english/2018-1 ... 661172.htm
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Breaking: China agreed to reduce tariffs to 15%

#5
CHINA AGREED TO REDUCE TARIFFS ON U.S. AUTOS TO 15% FROM 40% CURRENTLY: DJ

Source:
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China’s November retail sales grew at their weakest pace since 2003

#6
China’s November retail sales grew at their weakest pace since 2003

China’s November retail sales grew at their weakest pace since 2003 and industrial output rose the least in nearly three years as domestic demand softened further, underlining rising risks to the economy as China works to defuse a trade dispute with the United States.

Read more: https://www.reuters.com/article/us-chin ... SKBN1OD05Q

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China's December PPI misses expectation

#8
China's December PPI 0.9% compared to expected 1.6%

China's inflation rose less than expected for the month of December, official data showed on Thursday.

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China's inflation rose less than expected for the month of December, official data showed on Thursday.

The country's December producer inflation rose 0.9 percent on-year, lower than the 1.6 percent economists were expecting in a Reuters poll. The Producer Price Index — which measures price increases before they reach the consumer — grew 2.7 percent in November.

China's December consumer inflation (CPI) — a gauge of prices for goods and services — rose 1.9 percent on year, lower than economists' expectations of a 2.1 percent growth, according to a Reuters' poll. The CPI rose 2.2 percent in November.

Economic data from the world's second-largest economy are being closely watched for signs of damage inflicted by the trade war between Washington and Beijing.

While official data indicated China's economy held up for much of last year, it now appears to be slowing as production metrics and export orders fall amid the country's trade dispute with the U.S., its largest trading partner.

Beyond the tariffs battle, China's economy has been facing its own domestic headwinds. Even before U.S. President Donald Trump kicked off the latest escalation in trade tensions, Beijing was already trying to manage a slowdown in its economy after decades of breakneck growth.

Chinese and the U.S. officials concluded another round of trade talks Wednesday, which were extended into a third day.

In a Thursday morning statement, China's Commerce Ministry said the trade talks were extensive and established a foundation for the resolution of each others' concerns.

Sources: https://www.cnbc.com/2019/01/10/china-i ... s-end.html
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China GDP Weakest In 28 Years

#9
China 2018 GDP Growth Slows To Weakest In 28 Years

Update: Not wanting to bury the lead, here is some context for the mixed bag tonight from China. China's annual GDP growth in 2018 was +6.6% - that is the weakest annual GDP growth since 1990...

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After downbeat headlines over US-China trade talks, and following China's greatest liquidity injection ever (over 1.1 trillion yuan last week) after weak Chinese macro data in the last few months (including the collapse of China trade data), all eyes were on tonight's avalanche of China economic data.

Read more: https://www.zerohedge.com/news/2019-01-20/china
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