Macroeconomic data for 2018
Economic data
Economic Indicators Data interpretation
GDP GDP increased by 6.6% year-on-year in 2018. Economic aggregate exceeded 90 trillion for the first time.
CPI December CPI rose 1.9% year-on-year. 2018 CPI rose 2.1% year-on-year.
PPI December PPI rose 0.9% year-on-year. PPI rose 3.5% year-on-year in 2018.
National fixed asset investment National fixed asset investment increased by 5.9% from January to December 2018
Total retail sales of consumer goods Total retail sales of consumer goods increased by 9.0% from January to December 2018
Industrial added value above designated size In December 2018, the added value of industrial enterprises above designated size increased by 5.7%, and the year-on-year growth was 6.2%.
Real estate development investment National real estate development investment from January to December 2018 increased by 9.5% year-on-year
Manufacturing PMI Manufacturing PMI was 49.4% in December 2018
Export Export growth of 7.1% in 2018, export growth of 0.2% in December
import Imports increased by 12.9% in 2018. Imports in December fell by 3.1% year-on-year.
trade surplus 2018 trade surplus 2.33 trillion yuan December trade surplus 394.99 billion
M2 At the end of December 2018, the M2 balance was 182.67 trillion yuan, an increase of 8.1% year-on-year.
New loan In 2018, RMB loans increased by 16.17 trillion yuan. In December, it increased by 1.08 trillion yuan.
foreign exchange reserves At the end of December 2018, the balance of state foreign exchange reserves was 3.07 trillion US dollars.
Graph economic data

December CPI rose 1.9% year-on-year

The National Bureau of Statistics announced today that CPI rose by 1.9% year-on-year in December, and CPI rose by 2.1% year-on-year in 2018.

Rope National Day: CPI, PPI rose year-on-year

From a ring comparison, the CPI has changed from a 0.3% decline to a flat last month. From the same period of last year, the CPI rose by 1.9%, and the growth rate dropped by 0.3 percentage points from the previous month.

Hu Yuexiao: CPI data is lower than expected

In December 2018, CPI rose by 1.9% year-on-year. The data was slightly lower than market expectations, but did not deviate from the normal operating track.


Official manufacturing PMI for December was 49.4%

In December 2018, the China Manufacturing Purchasing Managers Index (PMI) was 49.4%, down 0.6 percentage points from the previous month.

Huatai macro review PMI: January downgrade can be expected

Huatai's macro Li Chao team said that in mid-December, the manufacturing PMI continued to fall 0.6 percentage points to 49.4%, which fell to the contraction zone.

Economist Deng Haiqing: PMI exceeds expectations

  The PMI production index is 50.8, which is still above the line of glory, but the indicator is only one time below 50, which is the period of the 2008 financial crisis.


RMB loans increased by 16.17 trillion in 2018

At the end of December, the broad money (M2) balance was 182.67 trillion yuan, an increase of 8.1% year-on-year, and the growth rate was 0.1 percentage points higher than the end of last month.

Central Bank: monetary policy is stable and unchanging

"Stable" is the working principle and guiding ideology of monetary policy. It emphasizes that monetary policy should be based on stability and adhere to the overall tone of steady progress.

Li Keqiang: Continue to implement a prudent monetary policy

Adhere to steady progress and continue to implement a proactive fiscal policy and a prudent monetary policy.

Consumer Price Index (CPI)


Purchasing Managers Index (PMI)


New credit data


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