China's renewed deflation concerns: 12 key charts beyond CPI & PPI —Charts of the Week
Understand China’s latest domestic consumption, real estate, and social sentiments in 13 charts
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November economic data highlights
In November 2023, deflationary pressures deepened, with the consumer price index (CPI) falling 0.5% from the previous year, extending the 0.2% decline from the previous month. The producer price index (PPI) also fell 3.0% year-on-year, continuing a 14-month trend of decline and performing worse than forecasted.
The retail sector continues to improve, with retail sales growing 10.1% year-on-year and vehicle sales increasing by 27.4%. Exports also experienced a growth of 0.5% year-on-year, marking the first positive growth in 6 months.
China Export
China's exports turned positive with a 0.5% year-on-year growth, marking the first positive growth in 6 months. The number of job postings for overseas positions offered by Chinese companies continued to increase in November, although at a slower pace compared to previous months.
In November, China's exports to India, the United States, and Mexico improved, with exports to Mexico leading other trading partners and growing 7.39% year-on-year.
Chinese companies are intensifying their efforts to expand their global presence.
Our previous editions have delved into the increasing trend of Chinese businesses going international, with a special focus on how emerging economies, notably Vietnam and Mexico, are becoming central hubs for receiving intermediate goods exported from China, followed by re-exports.
In 2023, Mexico has emerged as the United States' largest trading partner. With Chinese companies expanding their operations overseas and a shifting global geopolitical landscape, a significant question arises: Could Mexico potentially replace China as the "world's factory"? Read our recent post to gain deeper insights into the expansion of Chinese enterprises into Mexico.
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China's employment outlook: We also cover the latest job demand situation for junior positions, featuring job posting data across major online recruitment platforms in China.
Domestic consumption and consumer sentiments: Track China's gross merchandise values (GMV) across major e-commerce platforms including JD.com, Douyin, Kuaishou, and Tmall, highlighting current buying trends and the pace of recovery in discretionary spending.
Real estate: Get briefed on transaction volumes for existing homes in 82 Chinese cities
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