Official Data, Other Signs Hint at Bad State of China’s Economy
China’s sole engine driving growth is losing steam.
BUSINESS
Risk Watch: China’s Industrial Firms’ Profits Fell, Not Grew, in H1 2018
◎ China’s industrial firms’ profits actually fell 6.8 percent in the first quarter of the year.
Risk Watch: PBoC 502 Bln Yuan Injection Cannot Band-Aid China’s Economic Woes
◎ The central bank’s injections suggest that it does not have enough collateral to print money.
Risk Watch: China’s Local Debt ‘Iceberg’ Emits ‘Cracking Sounds’
◎ Based on our estimate, implicit debt in some cities and counties was three to four times higher that of their public debt.
Risk Watch: Does China Have Ammo for a Trade War?
◎ The Sino-U.S. trade war is underway. And China lacks “ammunition.”
Risk Watch: Can China’s New Negative List Help Defuse Trade Dispute with America?
◎ There are two reasons why the Xi administration appears to be motivated to open up China’s economy.
Risk Watch: China’s Industrial Profits Fell, Not Rose, Between January to May
◎ Industrial profits had in fact fallen 6 percent year-on-year.
Risk Watch: Official Data Shows China’s Economy Worsened in May
◎ NBS data actually indicates that China’s economy is worsening all-round.
Risk Watch: China’s National Property Database Aimed at Property Tax Collection, Curbing Corruption
◎ A national database could be used to facilitate the investigation of corrupt officials.
Risk Watch: China Central Bank MLF Injection Lowers RMB Creditworthiness
◎ The renminbi devalued and property prices soared on three previous occasions when China resorted to irregular injection of liquidity.