Exclusive report by CIMK + CNBW: Macroeconomic developments in China (Q1 2023)
Cooperation between CIMK (Nanjing) and CNBW:
The macroeconomic development in China is analysed objectively and holistically on a quarterly basis - with concrete figures and takeaways.
Selected Key Findings, Q 1 2023
Summary:
China’s GDP grew in Q1 2023 by 4.5% and has beaten the market expectation
slightly.
The recovery of GDP growth is proceeding at different rates in the individual
provinces.
The Purchasing Managers' Index recovered strongly in the first quarter of 2023,
breaking through the important 50-point barrier.
Retail sales of consumer goods increased 10.6% year over year, in line with the
expected increase following the end of COVID restrictions.
The 3.7% increase in export value following the opening of the country after COVID was considered rather underwhelming.
At the end of the Q1 2023, CPI and PPI fell below the important level of 100 points.
In the first quarter of 2023, government bonds issued (13.5%) expanded faster
than the total AFRE (10.3%).
Real estate investment fell by 6.5% year-on-year, indicating that the situation in
the Chinese real estate sector remains challenging.
China’s central bank kept policy rates constant in the first quarter of 2023 as
inflation remained very low.
At the end of Q1 2023, the M2 money supply has increased by 12.7% year-on-year, while the M1 available money supply has increased by only 5.1%.
The local governments continue to raise substantial loans through the vehicle of
local government special debt in Q1 2023.
Youth unemployment has rises by 22.5% to 19.6% and thus remains a major
problem in China.
CIMK (China Investment Market Knowledge) combines international market research capabilities with Chinese technological expertise.
REPORT: here
Responsible:
Lukas Tatge
CEO & Co-Founder
CIMK - Market Intelligence and Data Analytics Platform
Nanjing (China-Europe Innovation Center)
https://www.cimk.net/
CNBW member