Thread by @C_Barraud

🇨🇳 #China #Macro Update (1) | Economic data point to a slowdown and even a contraction in several sectors in November.
*Restrictions linked to #Covid_19 affected activity (same as August) as suggested by Airportia data.
*Link: bit.ly/3CUNAjo

🇨🇳 #China #Macro Update (2) | On a YoY basis, the expected slowdown in Nov. could be amplified by a calendar effect given that October figures were artificially boosted by one more business day (compared to Oct. 2020).

https://twitter.com/C_Barraud/status/1460119306772037633?s=20

🇨🇳 #China #Macro Update (3) | On the positive side, over the quarter, the bottom is probably behind us as the latest #Covid_19 wave seems to be under control.
*Link: bloom.bg/3r6hcIe

🇨🇳 #China #Macro Update (4) | An acceleration in December seems to be the base case scenario in a context where Chinese officials looks ready to support growth through different channels (monetary policy, fiscal policy, easing of property curbs).

🇨🇳 #China #Macro Update (5) | In its latest quarterly monetary policy report, #PBoC dropped previous phrases to “control the valve on money supply” and vowing not to “flood the economy with stimulus,” signaling more credit support in coming months.
bloomberg.com/news/articles/…

🇨🇳 #China #Macro Update (6) | On the fiscal front, China’s State Council called on local governments to sell more special bonds this year in order to boost investment.
*Link: bloom.bg/3r63QMj

🇨🇳 #China #Macro Update (7) | Lastly, #Chengdu becomes first city to relax rules for developers. It comes after:

*China Eases Developer Funding Limits - Bloomberg
*China Cities Ease Land Bidding Rules - Bloomberg

https://twitter.com/C_Barraud/status/1463740985821868033