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Is China’s Economy Beginning to Slow from Its Whopping 6.9% Growth? July Macro Data Might Indicate Yes

August 14, 2017

To distract ourselves from how quickly August is progressing, we are focusing attention on China’s recently-released July macro data. The month produced a mixed bag of statistics, with industrial production and import/export growth falling despite a widening trade surplus. Helping to compensate, two new policies were announced to stabilize economic growth: a “joint ownership” policy to help low income homebuyers and a RMB 1 trillion debt to equity swap to aid over-leveraged companies. Analysis of the aforementioned—as well as discussion of recent currency movements and a new national payment clearinghouse—can be found in the attached note.

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The views expressed represent an assessment of market conditions at a specific point in time, are opinions only and should not be relied upon as investment advice regarding a particular investment or markets in general. Such information does not constitute a recommendation to buy or sell specific securities or investment vehicles.