Markets Actual Q3/26 Q4/26 Q1/27 Q2/27
Stock Market (points) 3764.15 3916 3819 3734 3650
Currency 6.78 6.77 6.76 6.74 6.73
Government Bond 10Y (%) 1.73 1.7 1.67 1.64 1.61

Overview Actual Q3/26 Q4/26 Q1/27 Q2/27
GDP Growth Rate (%) 0.90 0.7 0.9 0.9 1
GDP Annual Growth Rate (%) 4.30 5.2 4.6 4.9 4.8
Unemployment Rate (%) 5.00 5 4.9 5.1 5.2
Inflation Rate (%) 1.00 1.4 1.2 0.8 1
Inflation Rate MoM (%) -0.30 0.4 0.3 -0.2 0.3
Interest Rate (%) 3.00 3 3 2.85 2.85
Balance of Trade (USD Billion) 125.62 79 91 54.5 75
Current Account (USD Hundred Million) 1843.00 875 1000 1080 1050
Non Manufacturing PMI (points) 50.20 50.4 51 51.8 50.5
Business Confidence (points) 50.30 50.5 50.9 51.8 50.7
Manufacturing PMI (points) 51.70 51.5 51 50.5 51.2
Services PMI (points) 54.10 52.5 52 52.8 51.4
Consumer Confidence (points) 89.90 91 88 89 93
Retail Sales MoM (%) 0.38 0.2 0.3 0.2 0.2
Current Account to GDP (% of GDP) 3.70 3.7
Government Debt to GDP (% of GDP) 99.20 92
Government Budget (% of GDP) -6.50 -5.2

GDP Actual Q3/26 Q4/26 Q1/27 Q2/27
GDP Growth Rate (%) 0.90 0.7 0.9 0.9 1
GDP Annual Growth Rate (%) 4.30 5.2 4.6 4.9 4.8
GDP from Transport (CNY Hundred Million) 14638.00 48514 64948 15355 15341
GDP Constant Prices (CNY Hundred Million) 335748.70 1021750 1407592 352200 351865
GDP from Manufacturing (CNY Hundred Million) 116134.90 321251 436000 121826 121709
GDP from Services (CNY Hundred Million) 206117.20 623764 846088 216217 216011
GDP from Agriculture (CNY Hundred Million) 11940.80 61213 97641 12526 12514
GDP from Construction (CNY Hundred Million) 13632.10 63068 90401 14300 14286
GDP (USD Billion) 19498.04 20414
Gross National Product (CNY Hundred Million) 1393700.00 1457810
Gross Fixed Capital Formation (CNY Hundred Million) 530436.70 554837
GDP per Capita (USD) 13793.21 14441
GDP per Capita PPP (USD) 23845.62 24966
Full Year GDP Growth (%) 5.00 4.7

Labour Actual Q3/26 Q4/26 Q1/27 Q2/27
Unemployment Rate (%) 5.00 5 4.9 5.1 5.2
Youth Unemployment Rate (%) 15.60 16.5 16.4 16.8 16.7
Employed Persons (Tens of Thousands ) 72504.00 72200
Wages (CNY/Year) 129441.00 129000
Wages in Manufacturing (CNY/Year) 113594.00 115000
Minimum Wages (CNY/Month) 2740.00 2790
Population (Million) 1405.00 1403
Retirement Age Women (Years) 50.50 51
Retirement Age Men (Years) 60.50 61

Prices Actual Q3/26 Q4/26 Q1/27 Q2/27
Inflation Rate (%) 1.00 1.4 1.2 0.8 1
Inflation Rate MoM (%) -0.30 0.4 0.3 -0.2 0.3
Consumer Price Index CPI (points) 100.60 101 101 101 101
Core Inflation Rate (%) 1.00 1 0.8 0.5 0.3
Producer Prices (points) 103.50 104 104 105 105
Producer Prices Change (%) 4.10 3.3 2.8 2 1.9
Export Prices (points) 108.90 105 103 98 101
Import Prices (points) 124.30 116 104 92 100
Food Inflation (%) -1.60 -0.9 0.3 1 1.3
Rent Inflation (%) -0.60 -0.1 -0.1 -0.1 -0.1
GDP Deflator (points) 105.10 106

Money Actual Q3/26 Q4/26 Q1/27 Q2/27
Interest Rate (%) 3.00 3 3 2.85 2.85
Interbank Rate (%) 1.43 1.43 1.43 1.28 1.28
Money Supply M2 (CNY Billion) 356709.76 356000 360100 367900 371200
Foreign Exchange Reserves (USD Million) 3416000.00 3430000 3405000 3455000 3430000
Banks Balance Sheet (CNY Hundred Million) 4916216.28 4910000 5050000 5100000 512000
Central Bank Balance Sheet (CNY Hundred Million) 494334.98 505000 505500 515000 520000
Loans to Private Sector (CNY Hundred Million) 829045.57 842097 850853 855697 856217
Loan Growth (%) 5.20 5 5.5 5.8 6
New Bank Loans (CNY Billion) 1610.00 1830 1250 2200 1580
Loan Prime Rate 5Y (%) 3.50 3.5 3.5 3.35 3.35
Total Social Financing (CNY Hundred Million) 33600.00 36500 32400 49000 40000
Reverse Repo Rate (%) 1.40 1.4 1.3 1.3 1.4
Fixed Asset Investment (%) -5.70 -2 1 3.2 1.7

Trade Actual Q3/26 Q4/26 Q1/27 Q2/27
Balance of Trade (USD Billion) 125.62 79 91 54.5 75
Current Account (USD Hundred Million) 1843.00 875 1000 1080 1050
Imports (USD Billion) 286.76 291 264 300 295
Exports (USD Billion) 412.39 370 355 354 370
Terms of Trade (points) 87.60 90.52 97.6 107 100
Crude Oil Production (BBL/D/1K) 4490.00 4360 4315 4295 4400
Current Account to GDP (% of GDP) 3.70 3.7

Government Actual Q3/26 Q4/26 Q1/27 Q2/27
Fiscal Expenditure (CNY Hundred Million) 19068.00 27500 39000 28900 28100
Government Debt to GDP (% of GDP) 99.20 92
Government Budget (% of GDP) -6.50 -5.2

Business Actual Q3/26 Q4/26 Q1/27 Q2/27
Non Manufacturing PMI (points) 50.20 50.4 51 51.8 50.5
Business Confidence (points) 50.30 50.5 50.9 51.8 50.7
Manufacturing PMI (points) 51.70 51.5 51 50.5 51.2
Services PMI (points) 54.10 52.5 52 52.8 51.4
Industrial Production (%) 5.30 4.8 4.1 4.4 4
Industrial Production Mom (%) 0.76 0.3 0.7 0.5 0.3
Manufacturing Production (%) 6.00 5 4.9 5 3.8
New Orders (points) 51.20 51 50.2 50.9 51.1
Total Vehicle Sales (Units) 2810000.00 2875000 3100000 2900000 2850000
Car Registrations (Units) 1602000.00 2020000 1950000 1900000 2100000
Car Production (Units) 2760000.00 2730000 2780000 2680000 2720000
NBS General PMI (points) 50.60 51 50.7 51 52
Cement Production (Ten Thousands of Tonnes) 14423.00 15900 14200 15000 15500
Steel Production (Thousand Tonnes) 84400.00 79000 81100 80000 75000
Electricity Production (Gigawatt-hour) 827600.00 840000 860000 867000 856000
Corporate Profits (CNY Million) 3143960.00 5700000 7700000 1560000 3750000
Mining Production (%) -2.20 4.8 4 4.2 4.8
Composite PMI (points) 53.60 52 50.4 51.6 51
Capacity Utilization (%) 73.00 73.5 74 75 74.3
Changes in Inventories (CNY Hundred Million) 15366.10 15050

Consumer Actual Q3/26 Q4/26 Q1/27 Q2/27
Consumer Confidence (points) 89.90 91 88 89 93
Retail Sales MoM (%) 0.38 0.2 0.3 0.2 0.2
Retail Sales YoY (%) 1.00 -1 1 3.7 4
Bank Lending Rate (%) 4.35 4.35 4.35 4.2 4.2
Gasoline Prices (USD/Liter) 0.97 1.14 0.95 0.95 0.95
Consumer Spending (CNY Hundred Million) 561234.70 587051
Disposable Personal Income (CNY) 56502.00 59101

Housing Actual Q3/26 Q4/26 Q1/27 Q2/27
Housing Index (Percent) -3.30 -3.5 -3.3 -2 1
Construction PMI (points) 49.00 50.5 49.8 50 50.2
Housing Starts (Tens of Thousands Square Metre) 17928.60 32000 59000 12600 27700
New Home Sales (CNY Hundred Million) 25783.04 56500 79000 16100 35000