In Understanding China’s Economic Indicators, leading economist and Wall Street Journal columnist Thomas M. Orlik introduces 35 of China's most significant economic statistics. Orlik explains why each indicator matters, how it is collected and computed, and its impact on equity, commodity, and currency markets.   As China has emerged as a central player in the global economy, more and more investors are seeking profitable opportunities there. To choose the right investments, it's crucial to understand China's economic environment–and that means finding, interpreting, and utilizing China's growing base of economic indicators. Orlik helps investors make sense of data on everything from Chinese GDP growth to inflation, unemployment, bond yields, electricity production, and aircraft passenger numbers. He draws on the best information supplied by the Chinese government's statistical agency, ministries, and industry associations, as well as private sources. Each indicator is clearly described, along with a practical discussion of its implications for investors.

Table of Contents:
Acknowledgments     x About the Author     xiii CHAPTER 1 Introduction     1 The Crush     1 How Reliable Are China’s Economic Statistics?      3 A Month in China’s Economic Data     6 Waiting for Release of the Data—or Not     7 A Year in China’s Economic Data     8 How This Book Works     11 CHAPTER 2 National Output     13 Gross Domestic Product     13 Industrial Value Added     24 Fiscal Revenue and Expenditure     31 Freight and Passenger Traffic     36 China Federation of Logistics and Purchasing’s Purchasing Managers Index     40 HSBC Markit Purchasing Managers Index     45 Market News International China Business Survey     48 National Bureau of Statistics Leading Economic Indicator     53 Conference Board Leading Economic Indicator     58 Organization for Economic Cooperation and Development Composite Leading Indicator     62 CHAPTER 3 Investment and Real Estate     67 Fixed Asset Investment     67 Real Estate Prices, Investment, Sales, and Construction     75 China Real Estate Index System     84 CHAPTER 4 Household Sector     89 Retail Sales     89 Urban and Rural Household Surveys     94 National Bureau of Statistics Consumer Confidence Index     101 INTAGE China Consumer Sentiment Survey     105 CHAPTER 5 External Sector     109 Trade     109 U.S. Import Price Index     121 Foreign Direct Investment     125 Balance of Payments     130 Foreign Exchange and Gold Reserves     136 Treasury International Capital System     142 CHAPTER 6 Labor Markets     149 Urban Wages     149 Unemployment     158 Public Employment Services Labor Market Supply-and-Demand Situation     162 CHAPTER 7 Prices     169 Consumer Price Index     169 Indices of Urban Residents’ Confidence on Income and Price Level     177 Producer Price Index     181 Bond Market Yield Curve     185 CHAPTER 8 Financial Indicators     193 Sources and Uses of Funds of Financial Institutions     193 Money Supply     200 Nonperforming Loans     204 China Foreign Exchange Trading System Central Parities     209 Hong Kong Banking System Yuan Deposits     215 People’s Bank of China Reports     218 Index     225