Markets Actual Q2/26 Q3/26 Q4/26 Q1/27
Stock Market (points) 3986.22 3916 3829 3753 3678
Currency 6.82 6.81 6.79 6.77 6.75
Government Bond 10Y (%) 1.82 1.79 1.76 1.74 1.71

Overview Actual Q2/26 Q3/26 Q4/26 Q1/27
GDP Growth Rate (%) 1.20 1 0.7 0.8 0.9
GDP Annual Growth Rate (%) 4.50 4.7 5.2 4.6 4.9
Unemployment Rate (%) 5.30 5.1 5 4.9 5.1
Inflation Rate (%) 1.00 1.2 1.4 1.2 0.8
Inflation Rate MoM (%) -0.70 0.3 0.1 0.2 0.2
Interest Rate (%) 3.00 3 2.85 2.85 2.85
Balance of Trade (USD Billion) 90.98 110 125 111 112
Current Account (USD Hundred Million) 2438.21 960 875 1000 1080
Services PMI (points) 52.10 51.5 51.5 52.5 52.8
Manufacturing PMI (points) 50.80 50.8 50.5 51 50.5
Non Manufacturing PMI (points) 50.10 51.2 51 52 51.8
Business Confidence (points) 50.40 50.4 50.5 50.9 50.8
Consumer Confidence (points) 90.60 86 87 88 89
Retail Sales MoM (%) 0.81 0.1 0.2 0.3 0.2
Current Account to GDP (% of GDP) 3.70 3.4
Government Debt to GDP (% of GDP) 88.30 90
Government Budget (% of GDP) -6.50 -4

GDP Actual Q2/26 Q3/26 Q4/26 Q1/27
GDP Growth Rate (%) 1.20 1 0.7 0.8 0.9
GDP Annual Growth Rate (%) 4.50 4.7 5.2 4.6 4.9
GDP from Services (CNY Hundred Million) 808879.30 408711 623764 846088 848514
GDP from Manufacturing (CNY Hundred Million) 416826.00 211599 321251 436000 437250
GDP Constant Prices (CNY Hundred Million) 1345690.20 659641 1021750 1407592 1411629
GDP from Construction (CNY Hundred Million) 86425.10 39523 63068 90401 90660
GDP from Agriculture (CNY Hundred Million) 93346.80 32703 61213 97641 97921
GDP from Transport (CNY Hundred Million) 62092.10 30792 48514 64948 65135
GDP (USD Billion) 18743.80 19625
Gross National Product (CNY Hundred Million) 1393700.00 1457810
Gross Fixed Capital Formation (CNY Hundred Million) 537875.60 562618
GDP per Capita (USD) 13121.68 13738
GDP per Capita PPP (USD) 23845.62 24966
Full Year GDP Growth (%) 5.00 4.7

Labour Actual Q2/26 Q3/26 Q4/26 Q1/27
Unemployment Rate (%) 5.30 5.1 5 4.9 5.1
Youth Unemployment Rate (%) 16.10 17.7 17 17 17
Employed Persons (Tens of Thousands ) 72504.00 72200
Wages (CNY/Year) 124110.00 129000
Minimum Wages (CNY/Month) 2740.00 2690
Wages in Manufacturing (CNY/Year) 107987.00 115000
Population (Million) 1405.00 1405
Retirement Age Women (Years) 50.50 51
Retirement Age Men (Years) 60.50 61

Prices Actual Q2/26 Q3/26 Q4/26 Q1/27
Inflation Rate (%) 1.00 1.2 1.4 1.2 0.8
Inflation Rate MoM (%) -0.70 0.3 0.1 0.2 0.2
Consumer Price Index CPI (points) 104.20 104 105 105 105
Core Inflation Rate (%) 1.10 1 0.8 0.3 0.5
Producer Prices (points) 105.30 103 104 104 106
Producer Prices Change (%) 0.50 -0.4 0.3 0.8 0.6
Export Prices (points) 94.90 99 100 100 100
Import Prices (points) 102.60 100 101 104 105
Food Inflation (%) 0.30 0.1 0.9 1.3 1
Rent Inflation (%) -0.50 -0.3 -0.1 -0.1 -0.1
GDP Deflator (points) 105.20 106

Money Actual Q2/26 Q3/26 Q4/26 Q1/27
Interest Rate (%) 3.00 3 2.85 2.85 2.85
Interbank Rate (%) 1.47 1.47 1.32 1.32 1.32
Money Supply M2 (CNY Billion) 347190.00 355050 356000 360100 367900
Central Bank Balance Sheet (CNY Hundred Million) 499862.79 495900 505500 505500 515000
Foreign Exchange Reserves (USD Million) 3342000.00 3500000 3570000 3575000 3605000
Banks Balance Sheet (CNY Hundred Million) 4849457.45 4890000 4910000 5050000 5100000
Loans to Private Sector (CNY Hundred Million) 830772.39 848638 842097 850853 855697
Loan Growth (%) 6.00 6.4 6.8 7 6.8
New Bank Loans (CNY Billion) 900.00 2000 1830 1250 2200
Total Social Financing (CNY Hundred Million) 23800.00 38900 36500 32400 49000
Loan Prime Rate 5Y (%) 3.50 3.5 3.35 3.35 3.35
Fixed Asset Investment (%) 1.80 1.3 2 3 3.2
Reverse Repo Rate (%) 1.40 1.3 1.3 1.3 1.4

Trade Actual Q2/26 Q3/26 Q4/26 Q1/27
Balance of Trade (USD Billion) 90.98 110 125 111 112
Current Account (USD Hundred Million) 2438.21 960 875 1000 1080
Imports (USD Billion) 208.90 220 215 224 223
Exports (USD Billion) 299.88 330 340 335 334
Terms of Trade (points) 92.50 99 99.01 96.15 95.71
Crude Oil Production (BBL/D/1K) 4310.00 4410 4360 4315 4295
Current Account to GDP (% of GDP) 3.70 3.4

Government Actual Q2/26 Q3/26 Q4/26 Q1/27
Fiscal Expenditure (CNY Hundred Million) 46706.00 34500 37500 34000 30500
Government Debt to GDP (% of GDP) 88.30 90
Government Budget (% of GDP) -6.50 -4

Business Actual Q2/26 Q3/26 Q4/26 Q1/27
Services PMI (points) 52.10 51.5 51.5 52.5 52.8
Manufacturing PMI (points) 50.80 50.8 50.5 51 50.5
Non Manufacturing PMI (points) 50.10 51.2 51 52 51.8
Business Confidence (points) 50.40 50.4 50.5 50.9 50.8
Industrial Production (%) 6.30 5 4.8 4.1 4.4
Industrial Production Mom (%) 0.83 0.4 0.3 0.7 0.5
Manufacturing Production (%) 6.60 5.4 5 4.9 5
New Orders (points) 51.60 50.9 51 50.2 50.9
Total Vehicle Sales (Units) 2899000.00 2975000 2875000 3500000 3000000
Car Registrations (Units) 1034000.00 2630000 2420000 2650000 2700000
Car Production (Units) 1400000.00 2700000 2730000 2780000 2680000
NBS General PMI (points) 50.50 51.1 51 50.7 51
Corporate Profits (CNY Million) 1024560.00 3700000 5700000 7700000 1560000
Electricity Production (Gigawatt-hour) 1571790.00 845000 840000 860000 867000
Mining Production (%) 6.10 4.2 4.8 4 4.2
Steel Production (Thousand Tonnes) 76100.00 77000 79000 81100 80000
Cement Production (Ten Thousands of Tonnes) 17827.00 15450 15900 16200 15700
Composite PMI (points) 51.50 50.9 52 50.4 50.6
Capacity Utilization (%) 74.90 76 75 76 76.5
Changes in Inventories (CNY Hundred Million) 10002.90 15050

Consumer Actual Q2/26 Q3/26 Q4/26 Q1/27
Consumer Confidence (points) 90.60 86 87 88 89
Retail Sales MoM (%) 0.81 0.1 0.2 0.3 0.2
Retail Sales YoY (%) 2.80 4.7 3.4 3 3.7
Bank Lending Rate (%) 4.35 4.35 4.2 4.2 4.2
Gasoline Prices (USD/Liter) 1.37 1.33 1.14 0.95 0.95
Consumer Spending (CNY Hundred Million) 538646.10 563424
Disposable Personal Income (CNY) 54188.00 56681

Housing Actual Q2/26 Q3/26 Q4/26 Q1/27
Housing Index (Percent) -3.20 -3 -2.5 -2.3 -1
Housing Starts (Tens of Thousands Square Metre) 5083.90 28000 32000 65000 14600
Construction PMI (points) 49.30 50.7 50.5 49.8 50
New Home Sales (CNY Hundred Million) 7163.45 36000 56500 81000 16100