Insight
China economic focus August 2025: navigating a slowdown with policy supports
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The Chinese economy saw signs of weakening in July. The slowdown was anticipated, but the scale was greater than expected. Since the start of H2, the government has issued multiple small-scale supportive policies. The scale of these incentives is smaller than the ones announced at the beginning of the year. We believe the government’s economic policy will become more balanced in the 15th Five-Year Plan. The growth target could also be more conservative.
Table of contents
- Executive summary
- The expected slowdown has arrived
- The government will use small measures, not big-ticket stimulus
- A more pragmatic 15th Five-Year Plan
- Appendix
Tables and charts
This report includes the following images and tables:
- Retail sales slowed in June and July
- Wood Mackenzie's proprietary China data
- Manufacturing PMI
- Industrial production and retail sales
- Trade
- Inflation
- Property
- Investment
- Money supply (M2)
- Required reserve ratio
What's included
This report contains:
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