MACRO

Fitch’s Downgrade of China’s Rating is Biased, China’s Long-Term Economic Trend Remains Strong – Finance Ministry

Fitch Downgrades China to A from A+ on Expectation of Weak Public Finances, Rising Debt

US Reciprocal Tariffs to Have Far Greater Impact on China Than 2018-2019 Trade War, Analysts Say

U.S. Effective Tariff Rate to Hit 130-Year High, GDP Growth May Halve, China GDP Could Drop 0.5% From to Pre-Tariff Levels, Analysts Say

Trump’s Reciprocal Tariffs Exceed Worst-Case Projection, to Lower US Real GDP Growth by 1.3 ppt, Says CICC

China’s Services Sector Growth Hits Three-Month High in Mar, Both Supply and Demand Accelerate, Shows Private Survey

Chinese Local Government Bond Issuance Surges 80% to Hit New High in Q1. Where Does the Money Go?

China’s Core Tourism Indicators Expected to Hit New Highs in 2025, Says Government Think Tank

Over 1.07 Mln Vehicles Renewed in Jan–Feb, 20 Mln Applications Filed for Home Appliance Trade-Ins

China’s Total Logistics Volume Rises 5.3% YoY in Jan – Feb, High-Tech Manufacturing Logistics Demand Grows 9.1%

China’s Manufacturing Activities Expand Fastest in Four Months in Mar, Employment Back to Expansion for First Time Since Sept 2023, Shows Private Survey

China’s Mar Manufacturing Activities Expand Fastest Since Apr 2024, Service and Construction Activities Also Accelerate

Chinese Industrial Companies See Continued Revenue Growth in Jan – Feb, Profits Decline Slightly Amid Uneven Recovery

Chinese Industrial Companies See Continued Revenue Growth in Jan – Feb, Profits Decline Slightly Amid Uneven Recovery

China to Expand Goods, Services Consumption, to Launch Pilot Programs for Auto Circulation, Consumption Reforms, Says Commerce Ministry