Bo Zhuang

Chief Economist and Director, China Research
+86 10 5960 3315

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Recent China research

* China Perspective: Communist Party Congress - What Xi’s new era means, Jonathan Fenby, 18 Oct 2017
* China Perspective: Communist Party Congress - The flaws in Xi’s world order, Jonathan Fenby, 16 Oct 2017
* China Watch: Pressure on housing sales to grow, Bo Zhuang, Jonathan Fenby, Jon Harrison, 12 Oct 2017
* China Perspective: Communist Party Congress - All Xi’s men, Trey McArver, 10 Oct 2017
* China Watch: China’s new growth paradigm, Larry Brainard, Bo Zhuang, Trey McArver, 5 Oct 2017

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China: Where has all the credit gone?

Overview

After China’s Q1/13 GDP numbers missed expectations, there was some hope that the relatively stronger rebound of investment in April would point to a better second quarter. Now, the dismal May HSBC PMI seems to have largely dashed those hopes. But there is a puzzle here over the lack of impact of domestic credit expansion, which this note...

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