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On A Slow Boat To China

• As expected, this month’s National People’s Congress did little to alleviate China’s immediate economic malaise. Furthermore, it confirmed Xi Jinping’s determination to follow a course that owes more to his obsession with power than his longer-term economic vision.

By Alastair Newton

China CPI -0.8% y-o-y (consensus -0.5%) in Jan-24

- China's CPI declined by 0.8% year-on-year in January 2024, falling short of the consensus forecast by 0.3 percentage points.
- This decline in CPI is much lower than last month and below the one-year average, suggesting a deepening period of unusually weak inflation.