China Macroeconomics & Academia

Christopher Balding

Macroeconomics

Zhuzhou CRRC Times Electric Co., Ltd. (3898 HK)

<p>We had predicted that official China PMI would increase and were forecasting 50.5.  We were not even close as PMI remain unchanged at 50.1 for May. Though the Chinese economy is built upon leverage, it seems clear that the real economy in China is stabilizing even if credit driven. </p><p>What is interesting about our forecast is that even though official PMI remained unchanged, virtually all sectors reporting data throughout the month showed further increase in output from April. We are retooling our…</p>

We had predicted that official China PMI would increase and were forecasting 50.5.  We were not even close as PMI remain unchanged at 50.1 for May. Though the Chinese economy is built upon leverage, it seems clear that the real economy in China is stabilizing even if credit driven. What is interesting about our forecast is that even though official PMI remained unchanged, virtually all sectors reporting data throughout the month showed further increase in output from April. We are retooling our…

Shanghai Electric Group Company (601727 CH)

China Railway Construction Corp (1186 HK)

China Communications Construction (1800 HK)

Xinjiang Goldwind Science & Technology (002202 CH)

XCMG Construction Machinery A (000425 CH)

China Railway Signal & Communication (3969 HK)

Cosco Shipping Energy Transportation Co. Ltd. (H) (1138 HK)

Cosco Shipping Energy Transportation Co. Ltd. (H)

Shanghai Tunnel Engineering Co, Ltd. (600820 CH)

Cssc Offshore & Marine Engg Group (317 HK)

Zhongshan Broad Ocean Motor Co., (002249 CH)

North Navigation Control Technlgy (600435 CH)

Tian Di Science & Technology Co., (600582 CH)

Shanghai International Airport (600009 CH)

Beijing Watertek Information T (300324 CH)

Metallurgical Corporation Of China Ltd (601618 CH)

Shanghai Electric Group Company (2727 HK)

Xinjiang Goldwind Science & Technology (2208 HK)

Beijing Capital International Airport (BCIA) (694 HK)

Beijing Capital International Airport (BCIA)

Dongfang Electric Corporation (600875 CH)

Bluefocus Communication Group Co, Ltd. (300058 CH)

Jiangxi Special Electric Motor A (002176 CH)

China Avionics Systems Co., Ltd. (600372 CH)

China International Marine Cntnrs Gp (2039 HK)

Beihai Yinhe Industry Investment (000806 CH)

Metallurgical Corporation of China Ltd (1618 HK)

Sinochem International Corporation A (600500 CH)

Suzhou Gold Mantis Construction Decoration (002081 CH)

Suzhou Gold Mantis Construction Decoration

Shanghai International Port Group (600018 CH)

AviChina Industry & Technology H (2357 HK)

Shanghai Construction Group Co, Ltd. (600170 CH)

Beijing Originwater Technology Co,Ltd. (300070 CH)

Shenzhen Inovance Technology Co., (300124 CH)

China National Chemical Engineering Company A (601117 CH)

China National Chemical Engineering Company A

Xinjiang Machinery Research Inst (300159 CH)

China International Marine Containers A (000039 CH)

AECC Aero-Engine Control Co. Ltd. A (000738 CH)

Yingkou Port Liability Co., Ltd A (600317 CH)

Post-PMI Data Release Analysis