A wrap of China Q1 macroeconomic data, covering GDP, credit growth, consumption vs. investment, real estate, trade, income growth, inflation, PMI, and the Li Keqiang Index. Compares reported economic data with CapitalVue's own consensus forecasts.

1. CapitalVue Research Analytics
Macro and Industrial Data
China in Numbers – Macro Update, March 2013
 Credit Outpaces GDP Growth, Consumption Contributes More to Growth
 Social Financing Hits All-Time High, Loan Growth Lags
 Inflation Falls, PMI Hits 11-Month High
 Exports Increase, Along with Questions
 Income Growth Declines
 Investment vs. Consumption
 Property Continues to Rebound
 The Li Keqiang Index – Loans, Electricity Use, Rail Freight
 Capital Markets, Capital Supplies, Exchange Rates
Key Data : NBS, NDRC, China Customs, Brokers, CapitalVue
1
A select sample brought to you
by Analytics@CapitalVue.com

2. 2

3. 7.70
-20
0
20
40
60
80
100
120
0
5
10
15
20
Mar-05 Mar-07 Mar-09 Mar-11 Mar-13
GDP, left Total Financing, 3 month avg
-10
-5
0
5
10
15
1Q09 3Q09 1Q10 3Q10 1Q11 3Q11 1Q12 3Q12 1Q13
Exports Investment Consumption GDP growth
3

4. 0%
50%
100%
150%
0.0
0.5
1.0
1.5
2.0
2.5
3.0
Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13
Total Social Financing (left) Loan proportion of total
37%
6%
-100%
0%
100%
200%
300%
400%
Jan-11 Jul-11 Jan-12 Jul-12 Jan-13
Total Financing Loans
6.15
0
2
4
6
8
2009Q1 2010Q1 2011Q1 2012Q1 2013Q1
15.70
10
12
14
16
18
20
Jan-11 Jul-11 Jan-12 Jul-12 Jan-13
4

5. -5
0
5
10
15
20
Jan-11 Jul-11 Jan-12 Jul-12 Jan-13
PPI CPI Core CPI Food CPI
5

6. -30,000
-20,000
-10,000
0
10,000
20,000
30,000
40,000
-60
-40
-20
0
20
40
60
80
Jan-11 Jul-11 Jan-12 Jul-12 Jan-13
Trade Balance, $Mn (right) Exports Imports
6

7. 7

8. 16.40
0
20
40
60
80
8

9. 67
0
10
20
30
40
50
60
70
Jan-12 Mar-12 May-12 Jul-12 Sep-12 Nov-12 Jan-13 Mar-13
9

10. 9.20
0
4
8
12
16
20
Feb-11 Aug-11 Feb-12 Aug-12 Feb-13
10

11. 11

12. 12
For more information:
Analytics@CapitalVue.com
www.capitalvue.com