Domestic Trade
• China’s economy grows a record 18.3% yoy in 1Q21
• Growth in retail sales further recovers in 1Q21
• Industrial production grows at rapid pace in 1Q21
• Fixed asset investment grows fast in 1Q21
• Growth in M2 and total outstanding RMB loans slows
• PMI indicates growth moderation in manufacturing sector
• China announces macroeconomic targets and policies for 2021
• Chinese government issues implementation plan to encourage new modes of consumption
Foreign Trade
• Surge in China’s exports in Jan-Apr signals recovery in external demand
• ASEAN remains China’s top trading partner in 1Q21
• Jump in FDI in 1Q21 indicates confidence in China’s long-term prospects
• Chinese yuan appreciates against US dollar but depreciates against Euro in April
• China expands cross-border e-commerce retail import pilots
• China–US tensions linger under the new US administration
• Divergence between US and Eurozone economies in 1Q21
• IMF projects faster recovery of world economy in 2021