MacroMicro

China Market ×

Related ETF
發行地 投資標的 Price 1 Month YTD Expense ratio
KraneShares CSI China Internet ETF $36.35 -2.83% -0.38% 0.72%
iShares MSCI China ETF $62.88 3.59% 0.18% 0.57%
iShares China Large-Cap ETF $37.70 5.99% 3.06% 0.74%
iShares MSCI All Country Asia ex-Japan ETF $83.03 3.55% 0.40% 0.69%
Xtrackers Harvest CSI 300 China A-Shares ETF $37.91 -1.76% -3.04% 0.65%
Fuh Hwa China 5+ Yr Policy Bank Bond ETF $52.35 0.19% 0.48% 0.47%
Cathay FTSE Chinese Policy Bank Bond 5+ Years ETF $42.47 -0.96% -0.79% 0.43%
KGI China Policy Bank 3-10 Year Bond ETF $42.58 0.71% 0.83% 0.41%
#Equity-Region: Global Market excluding Japan #Equity-Region: Emerging Market, Asia-Pacific #Equity-Region: China #Currency: RMB #Fixed Income-Region: Emerging Asia Pacific #Fixed Income-Type: China Bonds

Save China Interest Rate Corridor

Theoretically, the ceiling to China's interest rate corridor is 7-day SLF rate, the floor being excess reserve rate. Excess reserve rate, however, has been keeping at 0.72% for a long while and it's not working as it should. So, the floor practically is OMO. The corridor and benchmark interest rate have yet to establish by the Chinese government. "The DR007 can better reflect the liquidity condition in the banking system and has an active role to cultivate the market base rate”. Although the PBC has not confirmed DR007 as the policy interest rate yet, it is closely watched by the market." -IMF

When interest rate rises, market liquidity reduces. When interest rate goes down, market liquidity increases.

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Latest Stats
  • SLF Interest Rate (7D)
    2021-12
    3.20%
  • DR007
    2022-01-19
    2.11%
  • China 7-day Shibor (CNY)
    2022-01-18
    2.09%
  • Reverse Repurchase Agreement (7D)
    2021-12
    2.10%
  • CN Excessive Reserve Interest Rate
    2021-12
    0.35%
Source
Feedback
Related ETF
發行地 投資標的 Price 1 Month YTD Expense ratio
KraneShares CSI China Internet ETF $36.35 -2.83% -0.38% 0.72%
iShares MSCI China ETF $62.88 3.59% 0.18% 0.57%
iShares China Large-Cap ETF $37.70 5.99% 3.06% 0.74%
iShares MSCI All Country Asia ex-Japan ETF $83.03 3.55% 0.40% 0.69%
Xtrackers Harvest CSI 300 China A-Shares ETF $37.91 -1.76% -3.04% 0.65%
Fuh Hwa China 5+ Yr Policy Bank Bond ETF $52.35 0.19% 0.48% 0.47%
Cathay FTSE Chinese Policy Bank Bond 5+ Years ETF $42.47 -0.96% -0.79% 0.43%
KGI China Policy Bank 3-10 Year Bond ETF $42.58 0.71% 0.83% 0.41%
#Equity-Region: Global Market excluding Japan #Equity-Region: Emerging Market, Asia-Pacific #Equity-Region: China #Currency: RMB #Fixed Income-Region: Emerging Asia Pacific #Fixed Income-Type: China Bonds

Save China Loan Prime Rate

"LPR quoting banks are comprised of 18 banks. The quoting banks will submit their quotes with 0.05 percentage points as step length, to the National Interbank Funding Center (NIFC). The NIFC will calculate the arithmetic average of rates after excluding the highest and lowest ones, and find its nearest integral multiple of 0.05% to be the LPR, which will then be published at 9:30 a.m. on the same day.

Currently, the LPR consists of rates with two maturities, i.e. one year and over five years." -NIFC

"PBoC announced a further reform of the Loan Prime Rate (LPR) in August 2019, re-benchmarking the LPR on the basis of one-year medium-term lending facility or MLF rate (previously on the basis of benchmark lending rate).“ -UOB Group

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Latest Stats
  • CN-Loan Prime Rate 1Y
    2021-12
    3.80%
  • CN-Loan Prime Rate 5Y
    2021-12
    4.65%
  • CN MLF interest rate-1Y
    2021-12
    2.85%
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Related ETF
發行地 投資標的 Price 1 Month YTD Expense ratio
KraneShares CSI China Internet ETF $36.35 -2.83% -0.38% 0.72%
iShares MSCI China ETF $62.88 3.59% 0.18% 0.57%
iShares China Large-Cap ETF $37.70 5.99% 3.06% 0.74%
iShares MSCI All Country Asia ex-Japan ETF $83.03 3.55% 0.40% 0.69%
Xtrackers Harvest CSI 300 China A-Shares ETF $37.91 -1.76% -3.04% 0.65%
Fuh Hwa China 5+ Yr Policy Bank Bond ETF $52.35 0.19% 0.48% 0.47%
Cathay FTSE Chinese Policy Bank Bond 5+ Years ETF $42.47 -0.96% -0.79% 0.43%
KGI China Policy Bank 3-10 Year Bond ETF $42.58 0.71% 0.83% 0.41%
#Equity-Region: Global Market excluding Japan #Equity-Region: Emerging Market, Asia-Pacific #Equity-Region: China #Currency: RMB #Fixed Income-Region: Emerging Asia Pacific #Fixed Income-Type: China Bonds

Save China Major Assets on PBoC's Balance Sheet

Main components of PBOC's balance sheet are outstanding funds for foreign exchange and claims on other depository corporations.

PBOC's main measure to increase renminbi circulation is to convert foreign assets (forex, gold, etc) into renminbi.

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Latest Stats
  • PBOC Total Assets
    2021-11
    393,114.2600m
  • PBOC Foreign Exchange
    2021-11
    212,609.4000m
  • PBOC Claims on Other Depository Corporations
    2021-11
    129,928.4300m
Source
Feedback
Related ETF
發行地 投資標的 Price 1 Month YTD Expense ratio
KraneShares CSI China Internet ETF $36.35 -2.83% -0.38% 0.72%
iShares MSCI China ETF $62.88 3.59% 0.18% 0.57%
iShares China Large-Cap ETF $37.70 5.99% 3.06% 0.74%
iShares MSCI All Country Asia ex-Japan ETF $83.03 3.55% 0.40% 0.69%
Xtrackers Harvest CSI 300 China A-Shares ETF $37.91 -1.76% -3.04% 0.65%
Fuh Hwa China 5+ Yr Policy Bank Bond ETF $52.35 0.19% 0.48% 0.47%
Cathay FTSE Chinese Policy Bank Bond 5+ Years ETF $42.47 -0.96% -0.79% 0.43%
KGI China Policy Bank 3-10 Year Bond ETF $42.58 0.71% 0.83% 0.41%
#Equity-Region: Global Market excluding Japan #Equity-Region: Emerging Market, Asia-Pacific #Equity-Region: China #Currency: RMB #Fixed Income-Region: Emerging Asia Pacific #Fixed Income-Type: China Bonds

Save China Major Liabilities on PBoC's Balance Sheet

86% of the liabilities of PBOC are reserve currency, of which consist issued currency, deposits of non-financial institutions, deposits of other depository corporations and government deposits.

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Latest Stats
  • PBOC Total Liabilities
    2021-11
    393,114.2600m
  • PBOC Issued Currency
    2021-11
    92,595.8400m
  • PBOC Deposits of Other Depository Corporations
    2021-11
    205,698.6000m
  • PBOC Deposits of Government
    2021-11
    52,963.2800m
Source
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Related ETF
發行地 投資標的 Price 1 Month YTD Expense ratio
KraneShares CSI China Internet ETF $36.35 -2.83% -0.38% 0.72%
iShares MSCI China ETF $62.88 3.59% 0.18% 0.57%
iShares China Large-Cap ETF $37.70 5.99% 3.06% 0.74%
iShares MSCI All Country Asia ex-Japan ETF $83.03 3.55% 0.40% 0.69%
Xtrackers Harvest CSI 300 China A-Shares ETF $37.91 -1.76% -3.04% 0.65%
Fuh Hwa China 5+ Yr Policy Bank Bond ETF $52.35 0.19% 0.48% 0.47%
Cathay FTSE Chinese Policy Bank Bond 5+ Years ETF $42.47 -0.96% -0.79% 0.43%
KGI China Policy Bank 3-10 Year Bond ETF $42.58 0.71% 0.83% 0.41%
#Equity-Region: Global Market excluding Japan #Equity-Region: Emerging Market, Asia-Pacific #Equity-Region: China #Currency: RMB #Fixed Income-Region: Emerging Asia Pacific #Fixed Income-Type: China Bonds
Related ETF
發行地 投資標的 Price 1 Month YTD Expense ratio
KraneShares CSI China Internet ETF $36.35 -2.83% -0.38% 0.72%
iShares MSCI China ETF $62.88 3.59% 0.18% 0.57%
iShares China Large-Cap ETF $37.70 5.99% 3.06% 0.74%
iShares MSCI All Country Asia ex-Japan ETF $83.03 3.55% 0.40% 0.69%
Xtrackers Harvest CSI 300 China A-Shares ETF $37.91 -1.76% -3.04% 0.65%
Fuh Hwa China 5+ Yr Policy Bank Bond ETF $52.35 0.19% 0.48% 0.47%
Cathay FTSE Chinese Policy Bank Bond 5+ Years ETF $42.47 -0.96% -0.79% 0.43%
KGI China Policy Bank 3-10 Year Bond ETF $42.58 0.71% 0.83% 0.41%
#Equity-Region: Global Market excluding Japan #Equity-Region: Emerging Market, Asia-Pacific #Equity-Region: China #Currency: RMB #Fixed Income-Region: Emerging Asia Pacific #Fixed Income-Type: China Bonds
Related ETF
發行地 投資標的 Price 1 Month YTD Expense ratio
KraneShares CSI China Internet ETF $36.35 -2.83% -0.38% 0.72%
iShares MSCI China ETF $62.88 3.59% 0.18% 0.57%
iShares China Large-Cap ETF $37.70 5.99% 3.06% 0.74%
iShares MSCI All Country Asia ex-Japan ETF $83.03 3.55% 0.40% 0.69%
Xtrackers Harvest CSI 300 China A-Shares ETF $37.91 -1.76% -3.04% 0.65%
Fuh Hwa China 5+ Yr Policy Bank Bond ETF $52.35 0.19% 0.48% 0.47%
Cathay FTSE Chinese Policy Bank Bond 5+ Years ETF $42.47 -0.96% -0.79% 0.43%
KGI China Policy Bank 3-10 Year Bond ETF $42.58 0.71% 0.83% 0.41%
#Equity-Region: Global Market excluding Japan #Equity-Region: Emerging Market, Asia-Pacific #Equity-Region: China #Currency: RMB #Fixed Income-Region: Emerging Asia Pacific #Fixed Income-Type: China Bonds
Related ETF
發行地 投資標的 Price 1 Month YTD Expense ratio
KraneShares CSI China Internet ETF $36.35 -2.83% -0.38% 0.72%
iShares MSCI China ETF $62.88 3.59% 0.18% 0.57%
iShares China Large-Cap ETF $37.70 5.99% 3.06% 0.74%
iShares MSCI All Country Asia ex-Japan ETF $83.03 3.55% 0.40% 0.69%
Xtrackers Harvest CSI 300 China A-Shares ETF $37.91 -1.76% -3.04% 0.65%
Fuh Hwa China 5+ Yr Policy Bank Bond ETF $52.35 0.19% 0.48% 0.47%
Cathay FTSE Chinese Policy Bank Bond 5+ Years ETF $42.47 -0.96% -0.79% 0.43%
KGI China Policy Bank 3-10 Year Bond ETF $42.58 0.71% 0.83% 0.41%
#Equity-Region: Global Market excluding Japan #Equity-Region: Emerging Market, Asia-Pacific #Equity-Region: China #Currency: RMB #Fixed Income-Region: Emerging Asia Pacific #Fixed Income-Type: China Bonds

Save China Required Reserve Ratio

Required reserves are funds prepared as cleared funds by financial institutions.
Required reserve ratio = required reserves given to the People's Bank of China : the total deposits

When PBC raises requirement ratio, market liquidity will reduce.
When PBC lowers requirement ratio, more liquidity will be released into the market.

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Latest Stats
  • Required Reserve Ratio Large Financial Institution
    2021-12
    11.50%
  • Required Reserve Ratio Small Financial Institution
    2021-12
    9.50%
Source
Feedback
Related ETF
發行地 投資標的 Price 1 Month YTD Expense ratio
KraneShares CSI China Internet ETF $36.35 -2.83% -0.38% 0.72%
iShares MSCI China ETF $62.88 3.59% 0.18% 0.57%
iShares China Large-Cap ETF $37.70 5.99% 3.06% 0.74%
iShares MSCI All Country Asia ex-Japan ETF $83.03 3.55% 0.40% 0.69%
Xtrackers Harvest CSI 300 China A-Shares ETF $37.91 -1.76% -3.04% 0.65%
Fuh Hwa China 5+ Yr Policy Bank Bond ETF $52.35 0.19% 0.48% 0.47%
Cathay FTSE Chinese Policy Bank Bond 5+ Years ETF $42.47 -0.96% -0.79% 0.43%
KGI China Policy Bank 3-10 Year Bond ETF $42.58 0.71% 0.83% 0.41%
#Equity-Region: Global Market excluding Japan #Equity-Region: Emerging Market, Asia-Pacific #Equity-Region: China #Currency: RMB #Fixed Income-Region: Emerging Asia Pacific #Fixed Income-Type: China Bonds
Related ETF
發行地 投資標的 Price 1 Month YTD Expense ratio
KraneShares CSI China Internet ETF $36.35 -2.83% -0.38% 0.72%
iShares MSCI China ETF $62.88 3.59% 0.18% 0.57%
iShares China Large-Cap ETF $37.70 5.99% 3.06% 0.74%
iShares MSCI All Country Asia ex-Japan ETF $83.03 3.55% 0.40% 0.69%
Xtrackers Harvest CSI 300 China A-Shares ETF $37.91 -1.76% -3.04% 0.65%
Fuh Hwa China 5+ Yr Policy Bank Bond ETF $52.35 0.19% 0.48% 0.47%
Cathay FTSE Chinese Policy Bank Bond 5+ Years ETF $42.47 -0.96% -0.79% 0.43%
KGI China Policy Bank 3-10 Year Bond ETF $42.58 0.71% 0.83% 0.41%
#Equity-Region: Global Market excluding Japan #Equity-Region: Emerging Market, Asia-Pacific #Equity-Region: China #Currency: RMB #Fixed Income-Region: Emerging Asia Pacific #Fixed Income-Type: China Bonds

Save China's M1 & M2 vs. SSEC

Narrow money (M1) is the sum of circulating currency and non-bank and non-government demand deposits, including money in all store-valued platforms.
*Over 40% of M1 are enterprises' demand deposits

Broad money (M2) is the sum of M1, savings, foreign currency deposits, and trust funds.

When M1 YoY is higher than than M2 YoY, the investors are more optimistic than pessimistic.

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Latest Stats
  • China M2 (YoY)
    2021-12
    9.00%
  • China M1 (YoY)
    2021-12
    3.50%
  • China M1-M2(YoY)
    2021-12
    -5.50%
  • China Shanghai Stock Exchange Composite Index
    2022-01-19
    3,565.62
Source
Feedback
Related ETF
發行地 投資標的 Price 1 Month YTD Expense ratio
KraneShares CSI China Internet ETF $36.35 -2.83% -0.38% 0.72%
iShares MSCI China ETF $62.88 3.59% 0.18% 0.57%
iShares China Large-Cap ETF $37.70 5.99% 3.06% 0.74%
iShares MSCI All Country Asia ex-Japan ETF $83.03 3.55% 0.40% 0.69%
Xtrackers Harvest CSI 300 China A-Shares ETF $37.91 -1.76% -3.04% 0.65%
Fuh Hwa China 5+ Yr Policy Bank Bond ETF $52.35 0.19% 0.48% 0.47%
Cathay FTSE Chinese Policy Bank Bond 5+ Years ETF $42.47 -0.96% -0.79% 0.43%
KGI China Policy Bank 3-10 Year Bond ETF $42.58 0.71% 0.83% 0.41%
#Equity-Region: Global Market excluding Japan #Equity-Region: Emerging Market, Asia-Pacific #Equity-Region: China #Currency: RMB #Fixed Income-Region: Emerging Asia Pacific #Fixed Income-Type: China Bonds
Related ETF
發行地 投資標的 Price 1 Month YTD Expense ratio
KraneShares CSI China Internet ETF $36.35 -2.83% -0.38% 0.72%
iShares MSCI China ETF $62.88 3.59% 0.18% 0.57%
iShares China Large-Cap ETF $37.70 5.99% 3.06% 0.74%
iShares MSCI All Country Asia ex-Japan ETF $83.03 3.55% 0.40% 0.69%
Xtrackers Harvest CSI 300 China A-Shares ETF $37.91 -1.76% -3.04% 0.65%
Fuh Hwa China 5+ Yr Policy Bank Bond ETF $52.35 0.19% 0.48% 0.47%
Cathay FTSE Chinese Policy Bank Bond 5+ Years ETF $42.47 -0.96% -0.79% 0.43%
KGI China Policy Bank 3-10 Year Bond ETF $42.58 0.71% 0.83% 0.41%
#Equity-Region: Global Market excluding Japan #Equity-Region: Emerging Market, Asia-Pacific #Equity-Region: China #Currency: RMB #Fixed Income-Region: Emerging Asia Pacific #Fixed Income-Type: China Bonds
Related ETF
發行地 投資標的 Price 1 Month YTD Expense ratio
KraneShares CSI China Internet ETF $36.35 -2.83% -0.38% 0.72%
iShares MSCI China ETF $62.88 3.59% 0.18% 0.57%
iShares China Large-Cap ETF $37.70 5.99% 3.06% 0.74%
iShares MSCI All Country Asia ex-Japan ETF $83.03 3.55% 0.40% 0.69%
Xtrackers Harvest CSI 300 China A-Shares ETF $37.91 -1.76% -3.04% 0.65%
Fuh Hwa China 5+ Yr Policy Bank Bond ETF $52.35 0.19% 0.48% 0.47%
Cathay FTSE Chinese Policy Bank Bond 5+ Years ETF $42.47 -0.96% -0.79% 0.43%
KGI China Policy Bank 3-10 Year Bond ETF $42.58 0.71% 0.83% 0.41%
#Equity-Region: Global Market excluding Japan #Equity-Region: Emerging Market, Asia-Pacific #Equity-Region: China #Currency: RMB #Fixed Income-Region: Emerging Asia Pacific #Fixed Income-Type: China Bonds

Save China Non-financial Enterprises' Demand Deposits

It's an important indicator for enterprise's business confidence and liquidity and should be watched along with non-financial enterprises' time & other deposits.
Demand deposits increase when sentiment turns optimistic.

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Latest Stats
  • Non-financial Enterprises' Demand Deposits
    2021-11
    247,932.2700m
  • Non-financial Enterprises' Demand Deposits AccuYoY
    2021-11
    247,932.2700m
Source
Feedback
Related ETF
發行地 投資標的 Price 1 Month YTD Expense ratio
KraneShares CSI China Internet ETF $36.35 -2.83% -0.38% 0.72%
iShares MSCI China ETF $62.88 3.59% 0.18% 0.57%
iShares China Large-Cap ETF $37.70 5.99% 3.06% 0.74%
iShares MSCI All Country Asia ex-Japan ETF $83.03 3.55% 0.40% 0.69%
Xtrackers Harvest CSI 300 China A-Shares ETF $37.91 -1.76% -3.04% 0.65%
Fuh Hwa China 5+ Yr Policy Bank Bond ETF $52.35 0.19% 0.48% 0.47%
Cathay FTSE Chinese Policy Bank Bond 5+ Years ETF $42.47 -0.96% -0.79% 0.43%
KGI China Policy Bank 3-10 Year Bond ETF $42.58 0.71% 0.83% 0.41%
#Equity-Region: Global Market excluding Japan #Equity-Region: Emerging Market, Asia-Pacific #Equity-Region: China #Currency: RMB #Fixed Income-Region: Emerging Asia Pacific #Fixed Income-Type: China Bonds

Save China Non-financial Enterprises' Time & Other Deposits

It's an important indicator for enterprise's business confidence and should be watched along with non-financial enterprises' demand deposits.
Time and other deposits decrease when sentiment turns optimistic.

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Latest Stats
  • Non-financial Enterprises' Time & Other Deposits
    2021-11
    435,086.1200m
  • Non-fi Enterprises' Time & Other Deposits Accu YoY
    2021-11
    435,086.1200m
Source
Feedback
Related ETF
發行地 投資標的 Price 1 Month YTD Expense ratio
KraneShares CSI China Internet ETF $36.35 -2.83% -0.38% 0.72%
iShares MSCI China ETF $62.88 3.59% 0.18% 0.57%
iShares China Large-Cap ETF $37.70 5.99% 3.06% 0.74%
iShares MSCI All Country Asia ex-Japan ETF $83.03 3.55% 0.40% 0.69%
Xtrackers Harvest CSI 300 China A-Shares ETF $37.91 -1.76% -3.04% 0.65%
Fuh Hwa China 5+ Yr Policy Bank Bond ETF $52.35 0.19% 0.48% 0.47%
Cathay FTSE Chinese Policy Bank Bond 5+ Years ETF $42.47 -0.96% -0.79% 0.43%
KGI China Policy Bank 3-10 Year Bond ETF $42.58 0.71% 0.83% 0.41%
#Equity-Region: Global Market excluding Japan #Equity-Region: Emerging Market, Asia-Pacific #Equity-Region: China #Currency: RMB #Fixed Income-Region: Emerging Asia Pacific #Fixed Income-Type: China Bonds

Save China Non-financial Enterprise Loans

The Chinese government announced new regulations in 2016 aiming to deleverage and narrow down banks' off-balance sheet liabilities. Financial institutions who need off-sheet loans are usually those with low credit ratings. So, an increase in loans on the enterprise's balance sheet and a decrease in off-sheet loans show that market liquidity is improving.

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Latest Stats
  • China Short-term Increase
    2021-11
    409.5500m
  • China Mid- & Long-term Increase
    2021-11
    3,416.9900m
  • China Increase in Paper Financing
    2021-11
    1,604.8900m
Source
Feedback
Related ETF
發行地 投資標的 Price 1 Month YTD Expense ratio
KraneShares CSI China Internet ETF $36.35 -2.83% -0.38% 0.72%
iShares MSCI China ETF $62.88 3.59% 0.18% 0.57%
iShares China Large-Cap ETF $37.70 5.99% 3.06% 0.74%
iShares MSCI All Country Asia ex-Japan ETF $83.03 3.55% 0.40% 0.69%
Xtrackers Harvest CSI 300 China A-Shares ETF $37.91 -1.76% -3.04% 0.65%
Fuh Hwa China 5+ Yr Policy Bank Bond ETF $52.35 0.19% 0.48% 0.47%
Cathay FTSE Chinese Policy Bank Bond 5+ Years ETF $42.47 -0.96% -0.79% 0.43%
KGI China Policy Bank 3-10 Year Bond ETF $42.58 0.71% 0.83% 0.41%
#Equity-Region: Global Market excluding Japan #Equity-Region: Emerging Market, Asia-Pacific #Equity-Region: China #Currency: RMB #Fixed Income-Region: Emerging Asia Pacific #Fixed Income-Type: China Bonds

Save China Aggregate Financing to the Real Economy (AFRE) (Flow)

Aggregate financing to the real economy (common people and non-monetary companies) includes loans in RMB, loans in foreign currency, entrusted loans, trust loans, undiscounted bankers' acceptances, net financing of corporate bonds, government bonds,

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Latest Stats
  • Aggregate Financing to the Real Economy
    2021-12
    23,700.0000m
  • Aggregate Financing to the Real Economy (YoY)
    2021-12
    37.79%
Source
Feedback
Related ETF
發行地 投資標的 Price 1 Month YTD Expense ratio
KraneShares CSI China Internet ETF $36.35 -2.83% -0.38% 0.72%
iShares MSCI China ETF $62.88 3.59% 0.18% 0.57%
iShares China Large-Cap ETF $37.70 5.99% 3.06% 0.74%
iShares MSCI All Country Asia ex-Japan ETF $83.03 3.55% 0.40% 0.69%
Xtrackers Harvest CSI 300 China A-Shares ETF $37.91 -1.76% -3.04% 0.65%
Fuh Hwa China 5+ Yr Policy Bank Bond ETF $52.35 0.19% 0.48% 0.47%
Cathay FTSE Chinese Policy Bank Bond 5+ Years ETF $42.47 -0.96% -0.79% 0.43%
KGI China Policy Bank 3-10 Year Bond ETF $42.58 0.71% 0.83% 0.41%
#Equity-Region: Global Market excluding Japan #Equity-Region: Emerging Market, Asia-Pacific #Equity-Region: China #Currency: RMB #Fixed Income-Region: Emerging Asia Pacific #Fixed Income-Type: China Bonds

Save China Total Social Financing Subindices

Increases of social financing in China refers to the amount of financing the real economy received, comprising of loans in both CNY and other foreign currencies, entrusted loans, trust loans, undiscounted banker's acceptance, non-financial enterprise loans, local government bonds, and non-financial domestic enterprise equity financing.

Social financing reflects the assets of financial institutions and measures the demand for financing and fi's willingness to approve loans; while M2 reflects fi's debt level. M2's main body is bank deposits which reflect liquidity.

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Latest Stats
  • China RMB Loans
    2021-12
    10,346.0000m
  • China Increase of Loans in Foreign Currency
    2021-11
    -134.0000m
  • China Entrusted Loans Flow
    2021-11
    35.0000m
  • China Trust Loans Flow
    2021-11
    -2,190.0000m
  • China Undiscounted Banker's Acceptances Flow
    2021-11
    -383.0000m
  • China Increase of Net Financing of Corporate Bonds
    2021-11
    4,104.0000m
  • China Increase of Government Bonds
    2021-11
    8,158.0000m
  • China Increase of Equity Financing on Domestic Stock Market by Non-financial Enterprises
    2021-11
    1,294.0000m
Source
Feedback
Related ETF
發行地 投資標的 Price 1 Month YTD Expense ratio
KraneShares CSI China Internet ETF $36.35 -2.83% -0.38% 0.72%
iShares MSCI China ETF $62.88 3.59% 0.18% 0.57%
iShares China Large-Cap ETF $37.70 5.99% 3.06% 0.74%
iShares MSCI All Country Asia ex-Japan ETF $83.03 3.55% 0.40% 0.69%
Xtrackers Harvest CSI 300 China A-Shares ETF $37.91 -1.76% -3.04% 0.65%
Fuh Hwa China 5+ Yr Policy Bank Bond ETF $52.35 0.19% 0.48% 0.47%
Cathay FTSE Chinese Policy Bank Bond 5+ Years ETF $42.47 -0.96% -0.79% 0.43%
KGI China Policy Bank 3-10 Year Bond ETF $42.58 0.71% 0.83% 0.41%
#Equity-Region: Global Market excluding Japan #Equity-Region: Emerging Market, Asia-Pacific #Equity-Region: China #Currency: RMB #Fixed Income-Region: Emerging Asia Pacific #Fixed Income-Type: China Bonds

Save China Off-balance Sheet Financing

Off-sheet financing includes entrusted loans, trust loans and undiscounted bankers' acceptances. It shows the financing situation of low-rated enterprises.

Off-sheet financing is the borrowing not written on the company's balance sheet, because companies with low credit ratings can't borrow money from banks according to the financial laws in China. It avoids violating laws but risks over-leveraging.

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Latest Stats
  • Off-sheet Financing: Balance (L)
    2021-10
    19.13t
  • Off-sheet Financing: Increase (R)
    2021-11
    -2,538.0000m
Source
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Related ETF
發行地 投資標的 Price 1 Month YTD Expense ratio
KraneShares CSI China Internet ETF $36.35 -2.83% -0.38% 0.72%
iShares MSCI China ETF $62.88 3.59% 0.18% 0.57%
iShares China Large-Cap ETF $37.70 5.99% 3.06% 0.74%
iShares MSCI All Country Asia ex-Japan ETF $83.03 3.55% 0.40% 0.69%
Xtrackers Harvest CSI 300 China A-Shares ETF $37.91 -1.76% -3.04% 0.65%
Fuh Hwa China 5+ Yr Policy Bank Bond ETF $52.35 0.19% 0.48% 0.47%
Cathay FTSE Chinese Policy Bank Bond 5+ Years ETF $42.47 -0.96% -0.79% 0.43%
KGI China Policy Bank 3-10 Year Bond ETF $42.58 0.71% 0.83% 0.41%
#Equity-Region: Global Market excluding Japan #Equity-Region: Emerging Market, Asia-Pacific #Equity-Region: China #Currency: RMB #Fixed Income-Region: Emerging Asia Pacific #Fixed Income-Type: China Bonds
Related ETF
發行地 投資標的 Price 1 Month YTD Expense ratio
KraneShares CSI China Internet ETF $36.35 -2.83% -0.38% 0.72%
iShares MSCI China ETF $62.88 3.59% 0.18% 0.57%
iShares China Large-Cap ETF $37.70 5.99% 3.06% 0.74%
iShares MSCI All Country Asia ex-Japan ETF $83.03 3.55% 0.40% 0.69%
Xtrackers Harvest CSI 300 China A-Shares ETF $37.91 -1.76% -3.04% 0.65%
Fuh Hwa China 5+ Yr Policy Bank Bond ETF $52.35 0.19% 0.48% 0.47%
Cathay FTSE Chinese Policy Bank Bond 5+ Years ETF $42.47 -0.96% -0.79% 0.43%
KGI China Policy Bank 3-10 Year Bond ETF $42.58 0.71% 0.83% 0.41%
#Equity-Region: Global Market excluding Japan #Equity-Region: Emerging Market, Asia-Pacific #Equity-Region: China #Currency: RMB #Fixed Income-Region: Emerging Asia Pacific #Fixed Income-Type: China Bonds
Related ETF
發行地 投資標的 Price 1 Month YTD Expense ratio
KraneShares CSI China Internet ETF $36.35 -2.83% -0.38% 0.72%
iShares MSCI China ETF $62.88 3.59% 0.18% 0.57%
iShares China Large-Cap ETF $37.70 5.99% 3.06% 0.74%
iShares MSCI All Country Asia ex-Japan ETF $83.03 3.55% 0.40% 0.69%
Xtrackers Harvest CSI 300 China A-Shares ETF $37.91 -1.76% -3.04% 0.65%
Fuh Hwa China 5+ Yr Policy Bank Bond ETF $52.35 0.19% 0.48% 0.47%
Cathay FTSE Chinese Policy Bank Bond 5+ Years ETF $42.47 -0.96% -0.79% 0.43%
KGI China Policy Bank 3-10 Year Bond ETF $42.58 0.71% 0.83% 0.41%
#Equity-Region: Global Market excluding Japan #Equity-Region: Emerging Market, Asia-Pacific #Equity-Region: China #Currency: RMB #Fixed Income-Region: Emerging Asia Pacific #Fixed Income-Type: China Bonds
Related ETF
發行地 投資標的 Price 1 Month YTD Expense ratio
KraneShares CSI China Internet ETF $36.35 -2.83% -0.38% 0.72%
iShares MSCI China ETF $62.88 3.59% 0.18% 0.57%
iShares China Large-Cap ETF $37.70 5.99% 3.06% 0.74%
iShares MSCI All Country Asia ex-Japan ETF $83.03 3.55% 0.40% 0.69%
Xtrackers Harvest CSI 300 China A-Shares ETF $37.91 -1.76% -3.04% 0.65%
Fuh Hwa China 5+ Yr Policy Bank Bond ETF $52.35 0.19% 0.48% 0.47%
Cathay FTSE Chinese Policy Bank Bond 5+ Years ETF $42.47 -0.96% -0.79% 0.43%
KGI China Policy Bank 3-10 Year Bond ETF $42.58 0.71% 0.83% 0.41%
#Equity-Region: Global Market excluding Japan #Equity-Region: Emerging Market, Asia-Pacific #Equity-Region: China #Currency: RMB #Fixed Income-Region: Emerging Asia Pacific #Fixed Income-Type: China Bonds
Related ETF
發行地 投資標的 Price 1 Month YTD Expense ratio
KraneShares CSI China Internet ETF $36.35 -2.83% -0.38% 0.72%
iShares MSCI China ETF $62.88 3.59% 0.18% 0.57%
iShares China Large-Cap ETF $37.70 5.99% 3.06% 0.74%
iShares MSCI All Country Asia ex-Japan ETF $83.03 3.55% 0.40% 0.69%
Xtrackers Harvest CSI 300 China A-Shares ETF $37.91 -1.76% -3.04% 0.65%
Fuh Hwa China 5+ Yr Policy Bank Bond ETF $52.35 0.19% 0.48% 0.47%
Cathay FTSE Chinese Policy Bank Bond 5+ Years ETF $42.47 -0.96% -0.79% 0.43%
KGI China Policy Bank 3-10 Year Bond ETF $42.58 0.71% 0.83% 0.41%
#Equity-Region: Global Market excluding Japan #Equity-Region: Emerging Market, Asia-Pacific #Equity-Region: China #Currency: RMB #Fixed Income-Region: Emerging Asia Pacific #Fixed Income-Type: China Bonds

Save China Foreign Direct Investment

China is the most populated country in the world, thus the biggest/most desirable market for business. Foreign investors, however, refrained from investing China because the Chinese government was conservative. As China gradually loosens up its regulations, Chinese FDI is expected to continue growing.

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Latest Stats
  • Foreign Direct Investment, Accumulated (L)
    2021-12
    1,734.8000m
  • Foreign Direct Investment, Accumulated (YoY, R)
    2021-12
    20.16%
Source
Feedback
Related ETF
發行地 投資標的 Price 1 Month YTD Expense ratio
KraneShares CSI China Internet ETF $36.35 -2.83% -0.38% 0.72%
iShares MSCI China ETF $62.88 3.59% 0.18% 0.57%
iShares China Large-Cap ETF $37.70 5.99% 3.06% 0.74%
iShares MSCI All Country Asia ex-Japan ETF $83.03 3.55% 0.40% 0.69%
Xtrackers Harvest CSI 300 China A-Shares ETF $37.91 -1.76% -3.04% 0.65%
Fuh Hwa China 5+ Yr Policy Bank Bond ETF $52.35 0.19% 0.48% 0.47%
Cathay FTSE Chinese Policy Bank Bond 5+ Years ETF $42.47 -0.96% -0.79% 0.43%
KGI China Policy Bank 3-10 Year Bond ETF $42.58 0.71% 0.83% 0.41%
#Equity-Region: Global Market excluding Japan #Equity-Region: Emerging Market, Asia-Pacific #Equity-Region: China #Currency: RMB #Fixed Income-Region: Emerging Asia Pacific #Fixed Income-Type: China Bonds

Save China Shibor (CNY)

"Shibor (Shanghai Interbank Offered Rate) is calculated, announced and named on the technological platform of the National Interbank Funding Center in Shanghai. It is a simple, no-guarantee, wholesale interest rate calculated by arithmetically averaging all the interbank RMB lending rates offered by the price quotation group of banks with a high credit rating. Currently, the Shibor consists of eight maturities: overnight, 1-week, 2-week, 1-month, 3-month, 6-month, 9-month and 1-year." -People's Bank of China

When Shibor rises, liquidity tightens. When Shibor lowers, liquidity loosens.

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Latest Stats
  • China Overnight Shibor (CNY)
    2022-01-18
    1.92%
  • China 3-Month Shibor (CNY)
    2022-01-18
    2.49%
Source
Feedback
Related ETF
發行地 投資標的 Price 1 Month YTD Expense ratio
KraneShares CSI China Internet ETF $36.35 -2.83% -0.38% 0.72%
iShares MSCI China ETF $62.88 3.59% 0.18% 0.57%
iShares China Large-Cap ETF $37.70 5.99% 3.06% 0.74%
iShares MSCI All Country Asia ex-Japan ETF $83.03 3.55% 0.40% 0.69%
Xtrackers Harvest CSI 300 China A-Shares ETF $37.91 -1.76% -3.04% 0.65%
Fuh Hwa China 5+ Yr Policy Bank Bond ETF $52.35 0.19% 0.48% 0.47%
Cathay FTSE Chinese Policy Bank Bond 5+ Years ETF $42.47 -0.96% -0.79% 0.43%
KGI China Policy Bank 3-10 Year Bond ETF $42.58 0.71% 0.83% 0.41%
#Equity-Region: Global Market excluding Japan #Equity-Region: Emerging Market, Asia-Pacific #Equity-Region: China #Currency: RMB #Fixed Income-Region: Emerging Asia Pacific #Fixed Income-Type: China Bonds
Related ETF
發行地 投資標的 Price 1 Month YTD Expense ratio
KraneShares CSI China Internet ETF $36.35 -2.83% -0.38% 0.72%
iShares MSCI China ETF $62.88 3.59% 0.18% 0.57%
iShares China Large-Cap ETF $37.70 5.99% 3.06% 0.74%
iShares MSCI All Country Asia ex-Japan ETF $83.03 3.55% 0.40% 0.69%
Xtrackers Harvest CSI 300 China A-Shares ETF $37.91 -1.76% -3.04% 0.65%
Fuh Hwa China 5+ Yr Policy Bank Bond ETF $52.35 0.19% 0.48% 0.47%
Cathay FTSE Chinese Policy Bank Bond 5+ Years ETF $42.47 -0.96% -0.79% 0.43%
KGI China Policy Bank 3-10 Year Bond ETF $42.58 0.71% 0.83% 0.41%
#Equity-Region: Global Market excluding Japan #Equity-Region: Emerging Market, Asia-Pacific #Equity-Region: China #Currency: RMB #Fixed Income-Region: Emerging Asia Pacific #Fixed Income-Type: China Bonds

Save China & US 10-year Treasury Yield Spread vs. USD/CNH

China and US Spread = China 10-year Treasury Yield - US 10-year Treasury Yield Spread

Long-term Treasury yield reflects the changes in economic growth and monetary policy. When China-US spread widens, renminbi is likely to appreciate. When spread narrows, the US dollar tends to get stronger.

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Latest Stats
  • China 10-Year Government Bond Yield (L)
    2022-01-18
    2.77%
  • US 10-year Treasury Yield (L)
    2022-01-18
    1.87%
  • China - US 10-year Treasury Yield Spread
    0.00
  • USD/CNH (L)
    2022-01-19
    6.36
Source
Feedback
Related ETF
發行地 投資標的 Price 1 Month YTD Expense ratio
KraneShares CSI China Internet ETF $36.35 -2.83% -0.38% 0.72%
iShares MSCI China ETF $62.88 3.59% 0.18% 0.57%
iShares China Large-Cap ETF $37.70 5.99% 3.06% 0.74%
iShares MSCI All Country Asia ex-Japan ETF $83.03 3.55% 0.40% 0.69%
Xtrackers Harvest CSI 300 China A-Shares ETF $37.91 -1.76% -3.04% 0.65%
Fuh Hwa China 5+ Yr Policy Bank Bond ETF $52.35 0.19% 0.48% 0.47%
Cathay FTSE Chinese Policy Bank Bond 5+ Years ETF $42.47 -0.96% -0.79% 0.43%
KGI China Policy Bank 3-10 Year Bond ETF $42.58 0.71% 0.83% 0.41%
#Equity-Region: Global Market excluding Japan #Equity-Region: Emerging Market, Asia-Pacific #Equity-Region: China #Currency: RMB #Fixed Income-Region: Emerging Asia Pacific #Fixed Income-Type: China Bonds
Related ETF
發行地 投資標的 Price 1 Month YTD Expense ratio
KraneShares CSI China Internet ETF $36.35 -2.83% -0.38% 0.72%
iShares MSCI China ETF $62.88 3.59% 0.18% 0.57%
iShares China Large-Cap ETF $37.70 5.99% 3.06% 0.74%
iShares MSCI All Country Asia ex-Japan ETF $83.03 3.55% 0.40% 0.69%
Xtrackers Harvest CSI 300 China A-Shares ETF $37.91 -1.76% -3.04% 0.65%
Fuh Hwa China 5+ Yr Policy Bank Bond ETF $52.35 0.19% 0.48% 0.47%
Cathay FTSE Chinese Policy Bank Bond 5+ Years ETF $42.47 -0.96% -0.79% 0.43%
KGI China Policy Bank 3-10 Year Bond ETF $42.58 0.71% 0.83% 0.41%
#Equity-Region: Global Market excluding Japan #Equity-Region: Emerging Market, Asia-Pacific #Equity-Region: China #Currency: RMB #Fixed Income-Region: Emerging Asia Pacific #Fixed Income-Type: China Bonds

Save China Bloomberg Credit Impulse Index

Credit impulse index = new loans / GDP
Credit impulse index measures the credit cycle in a market. When the economy recovers, the index rises.

China’s credit impulse has less to do with GDP, though. China usually uses property to stimulate demand when the economy downtrends, so new loans are usually backed by real estate. But as China gains more and more control over its housing market, part of the new loans is starting turning to the stock market.

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Latest Stats
  • China Bloomberg Credit Impulse Index
    2021-11
    23.64
  • China Housing Price (YoY)
    2021-12
    2.60%
  • China Shanghai Stock Exchange Composite Index (R)
    2022-01-19
    3,565.62
Source
Feedback
Related ETF
發行地 投資標的 Price 1 Month YTD Expense ratio
KraneShares CSI China Internet ETF $36.35 -2.83% -0.38% 0.72%
iShares MSCI China ETF $62.88 3.59% 0.18% 0.57%
iShares China Large-Cap ETF $37.70 5.99% 3.06% 0.74%
iShares MSCI All Country Asia ex-Japan ETF $83.03 3.55% 0.40% 0.69%
Xtrackers Harvest CSI 300 China A-Shares ETF $37.91 -1.76% -3.04% 0.65%
Fuh Hwa China 5+ Yr Policy Bank Bond ETF $52.35 0.19% 0.48% 0.47%
Cathay FTSE Chinese Policy Bank Bond 5+ Years ETF $42.47 -0.96% -0.79% 0.43%
KGI China Policy Bank 3-10 Year Bond ETF $42.58 0.71% 0.83% 0.41%
#Equity-Region: Global Market excluding Japan #Equity-Region: Emerging Market, Asia-Pacific #Equity-Region: China #Currency: RMB #Fixed Income-Region: Emerging Asia Pacific #Fixed Income-Type: China Bonds

Save China's macro leverage ratio

宏觀槓桿率顯示的是一國的債務餘額與 GDP 之間的比例，為衡量一國債務水準的重要指標。

中國的居民槓桿率相較已開發國家仍有段距離，但在過去幾年中，中國卻是槓桿率上升最快的國家，從 2011 年初的 27.8%上升至 2020 年末的 62.2%，是遠高於新興市場的平均值，原因在於過去經濟衰退時，中國多以「房地產」作為主要擴大內需的手段，包括 2008 年金融海嘯後的四萬億鐵公雞、2012 年歐債危機下放鬆金融創新的監管、2015 年配合供給側改革出現的棚改貨幣化，也讓房地產成為經濟托底的重要工具，也是導致居民槓桿率快速飆升的原因。

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Latest Stats
  • Total Leverage Ratio
    2021 Q3
    264.80%
  • Household Leverage Ratio
    2021 Q3
    62.10%
  • Central Government Leverage Ratio
    2021 Q3
    19.70%
  • Local Government Leverage Ratio
    2021 Q3
    25.80%
  • Non Financial Corporation Leverage Ratio
    2021 Q3
    157.20%
  • Total Government Leverage Ratio
    2021 Q3
    45.50%
  • Financial Sector Leverage Ratio: Asset Side
    2021 Q3
    49.20%
Source
Feedback
Related ETF
發行地 投資標的 Price 1 Month YTD Expense ratio
KraneShares CSI China Internet ETF $36.35 -2.83% -0.38% 0.72%
iShares MSCI China ETF $62.88 3.59% 0.18% 0.57%
iShares China Large-Cap ETF $37.70 5.99% 3.06% 0.74%
iShares MSCI All Country Asia ex-Japan ETF $83.03 3.55% 0.40% 0.69%
Xtrackers Harvest CSI 300 China A-Shares ETF $37.91 -1.76% -3.04% 0.65%
Fuh Hwa China 5+ Yr Policy Bank Bond ETF $52.35 0.19% 0.48% 0.47%
Cathay FTSE Chinese Policy Bank Bond 5+ Years ETF $42.47 -0.96% -0.79% 0.43%
KGI China Policy Bank 3-10 Year Bond ETF $42.58 0.71% 0.83% 0.41%
#Equity-Region: Global Market excluding Japan #Equity-Region: Emerging Market, Asia-Pacific #Equity-Region: China #Currency: RMB #Fixed Income-Region: Emerging Asia Pacific #Fixed Income-Type: China Bonds

Save China LPR Interest Rate Swap

在 2019 年人行引進新的 LPR 定價基準後，也陸續推出與 LPR 利率掛鉤的衍生性商品做為企業和銀行對沖利率風險的工具，包括 LPR Swap、LPR 交換選擇權等，其中利率互換又是交易最活躍的利率衍生品之一，因此 LPR 互換利率可作為市場交易者預期未來央行升息 / 降息的指標。

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Latest Stats
  • CN LPR 1Y Interest Rate Swap (6M)
    2022-01-18
    3.79%
  • CN LPR 1Y Interest Rate Swap (9M)
    2022-01-18
    3.77%
  • CN LPR 1Y Interest Rate Swap (1Y)
    2022-01-18
    3.77%
  • CN LPR 1Y Interest Rate Swap (3Y)
    2022-01-18
    3.76%
  • CN LPR 1Y Interest Rate Swap (5Y)
    2022-01-18
    3.88%
  • CN LPR 1Y Interest Rate Swap (10Y)
    2022-01-18
    4.00%
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