Current Account in China
China - Current AccountThe economy ended 2019 on a relatively solid footing mostly benefiting from expectations of an early trade accord between China and the United States. Most economic indicators improved in December, prompting GDP growth to stabilize in Q4. Hopes of a prompt settling of trade disputes between the two superpowers finally materialized on 15 January with the signature of the “phase one” trade deal. Although the deal includes some tariff reductions for Chinese imports and China’s commitment to increase purchases of U.S. goods and services, key trade issues remain unresolved. This, coupled with Trump’s upcoming 2020 presidential campaign, raised skepticism about the sustainability of the current trade war truce. Moreover, the recent outbreak of a new coronavirus spread SARS-like fears. The SARS crisis in 2003 is estimated to have cut growth by between 0.5% and 2.0%.
China - Current Account Data
|Current Account (% of GDP)||2.3||2.8||1.8||1.6||0.4|
5 years of economic forecasts for more than 30 economic indicators.
China Current Account Chart
Source: State Administration of Foreign Exchange.
|Bond Yield||3.17||-0.40 %||Dec 31|
|Exchange Rate||6.96||-0.19 %||Jan 01|
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February 20, 2020
In January, Chinese banks distributed CNY 3.34 trillion (USD 476 billion) in new yuan loans.
February 17, 2020
House prices in 70 large- and medium-sized cities rose 0.2% in January in month-on-month terms according to a weighted average index calculated by Refinitiv from data issued by the National Bureau of Statistics (NBS).
February 10, 2020
Consumer prices rose 1.4% over the previous month in January, well above December’s flat reading.
January 30, 2020
The manufacturing Purchasing Managers’ Index (PMI) published by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP) fell from December’s 50.2% to 50.0% in January.
January 23, 2020
On 15 January, the United States and China signed off on a “phase one” trade deal, as had been expected.