Markets Actual Q2/26 Q3/26 Q4/26 Q1/27
Stock Market (points) 4088.89 4016 3864 3783 3703
Currency 6.76 6.76 6.74 6.72 6.71
Government Bond 10Y (%) 1.73 1.74 1.68 1.65 1.62

Overview Actual Q2/26 Q3/26 Q4/26 Q1/27
GDP Growth Rate (%) 1.30 1 0.7 0.8 0.9
GDP Annual Growth Rate (%) 5.00 4.7 5.2 4.6 4.9
Unemployment Rate (%) 5.10 5.1 5 4.9 5.1
Inflation Rate (%) 1.20 1.2 1.4 1.2 0.8
Inflation Rate MoM (%) -0.10 0.3 0.4 0.3 -0.2
Interest Rate (%) 3.00 3 3 2.85 2.85
Balance of Trade (USD Billion) 105.43 110 125 111 112
Current Account (USD Hundred Million) 1841.00 960 875 1000 1080
Business Confidence (points) 50.00 50.3 50.5 50.9 50.8
Non Manufacturing PMI (points) 50.10 50.5 50.4 51 51.8
Manufacturing PMI (points) 51.80 51.4 50.5 51 50.5
Services PMI (points) 54.40 55 52.5 52 52.8
Consumer Confidence (points) 89.00 89 91 88 89
Retail Sales MoM (%) -0.38 0.1 0.2 0.3 0.2
Current Account to GDP (% of GDP) 3.70 3.4
Government Debt to GDP (% of GDP) 99.20 92
Government Budget (% of GDP) -6.50 -5.2

GDP Actual Q2/26 Q3/26 Q4/26 Q1/27
GDP Growth Rate (%) 1.30 1 0.7 0.8 0.9
GDP Annual Growth Rate (%) 5.00 4.7 5.2 4.6 4.9
GDP Constant Prices (CNY Hundred Million) 335748.70 659641 1021750 1407592 352200
GDP from Services (CNY Hundred Million) 206117.20 408711 623764 846088 216217
GDP from Manufacturing (CNY Hundred Million) 116134.90 211599 321251 436000 121826
GDP from Construction (CNY Hundred Million) 13632.10 39523 63068 90401 14300
GDP from Agriculture (CNY Hundred Million) 11940.80 32703 61213 97641 12526
GDP from Transport (CNY Hundred Million) 14638.00 30792 48514 64948 15355
GDP (USD Billion) 18743.80 19625
Gross National Product (CNY Hundred Million) 1393700.00 1457810
Gross Fixed Capital Formation (CNY Hundred Million) 530436.70 554837
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 (%) 5.10 5.1 5 4.9 5.1
Youth Unemployment Rate (%) 16.30 16.2 16.5 16.4 16.8
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 Q2/26 Q3/26 Q4/26 Q1/27
Inflation Rate (%) 1.20 1.2 1.4 1.2 0.8
Inflation Rate MoM (%) -0.10 0.3 0.4 0.3 -0.2
Consumer Price Index CPI (points) 100.90 101 102 102 102
Core Inflation Rate (%) 1.10 1.3 1 0.8 0.5
Producer Prices (points) 103.80 102 102 102 102
Producer Prices Change (%) 3.90 3.5 3.3 2.8 1
Export Prices (points) 98.10 99 100 100 100
Import Prices (points) 109.50 110 106 104 105
Food Inflation (%) -1.70 -1 0.9 1.3 1
Rent Inflation (%) -0.60 -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 3 2.85 2.85
Interbank Rate (%) 1.43 1.43 1.43 1.28 1.28
Money Supply M2 (CNY Billion) 353668.89 355050 356000 360100 367900
Central Bank Balance Sheet (CNY Hundred Million) 483806.92 490900 505000 505500 515000
Foreign Exchange Reserves (USD Million) 3442000.00 3420000 3430000 3405000 3455000
Banks Balance Sheet (CNY Hundred Million) 4886518.00 4890000 4910000 5050000 5100000
Loans to Private Sector (CNY Hundred Million) 826399.82 848638 842097 850853 855697
Loan Growth (%) 5.50 5.4 5 5.5 5.8
New Bank Loans (CNY Billion) 520.00 2000 1830 1250 2200
Total Social Financing (CNY Hundred Million) 20300.00 38900 36500 32400 49000
Loan Prime Rate 5Y (%) 3.50 3.5 3.5 3.35 3.35
Fixed Asset Investment (%) -4.10 0.3 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) 105.43 110 125 111 112
Current Account (USD Hundred Million) 1841.00 960 875 1000 1080
Imports (USD Billion) 271.35 220 215 224 223
Exports (USD Billion) 376.78 330 340 335 334
Terms of Trade (points) 89.60 90 94.34 96.15 95.71
Crude Oil Production (BBL/D/1K) 4420.00 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) 20100.00 28500 27500 39000 28900
Government Debt to GDP (% of GDP) 99.20 92
Government Budget (% of GDP) -6.50 -5.2

Business Actual Q2/26 Q3/26 Q4/26 Q1/27
Business Confidence (points) 50.00 50.3 50.5 50.9 50.8
Non Manufacturing PMI (points) 50.10 50.5 50.4 51 51.8
Manufacturing PMI (points) 51.80 51.4 50.5 51 50.5
Services PMI (points) 54.40 55 52.5 52 52.8
Industrial Production (%) 4.50 5 4.8 4.1 4.4
Industrial Production Mom (%) 0.40 0.4 0.3 0.7 0.5
Manufacturing Production (%) 4.40 5.4 5 4.9 5
New Orders (points) 49.90 50.9 51 50.2 50.9
Car Registrations (Units) 1510000.00 2630000 2420000 2650000 2700000
Car Production (Units) 2616000.00 2700000 2730000 2780000 2680000
Total Vehicle Sales (Units) 2629000.00 2975000 2875000 3500000 3000000
NBS General PMI (points) 50.50 50.7 51 50.7 51
Steel Production (Thousand Tonnes) 83600.00 77000 79000 81100 80000
Electricity Production (Gigawatt-hour) 744000.00 845000 840000 860000 867000
Corporate Profits (CNY Million) 2435840.00 3700000 5700000 7700000 1560000
Mining Production (%) 2.30 4.2 4.8 4 4.2
Cement Production (Ten Thousands of Tonnes) 14991.00 15450 15900 14200 15000
Composite PMI (points) 54.00 53.4 52 50.4 51.6
Capacity Utilization (%) 73.60 74 73 74 75
Changes in Inventories (CNY Hundred Million) 15366.10 15050

Consumer Actual Q2/26 Q3/26 Q4/26 Q1/27
Consumer Confidence (points) 89.00 89 91 88 89
Retail Sales MoM (%) -0.38 0.1 0.2 0.3 0.2
Retail Sales YoY (%) -0.60 3.7 3.4 3 3.7
Bank Lending Rate (%) 4.35 4.35 4.35 4.2 4.2
Gasoline Prices (USD/Liter) 0.99 1.33 1.14 0.95 0.95
Consumer Spending (CNY Hundred Million) 561234.70 587051
Disposable Personal Income (CNY) 56502.00 59101

Housing Actual Q2/26 Q3/26 Q4/26 Q1/27
Housing Index (Percent) -3.50 -3.4 -3.5 -3.3 -2
Construction PMI (points) 48.80 49.5 50.5 49.8 50
Housing Starts (Tens of Thousands Square Metre) 13900.22 28000 32000 59000 12600
New Home Sales (CNY Hundred Million) 20068.32 36000 56500 79000 16100