The broad based decline in almost all components of the PMI hints the central bank was right in introducing further easing measures on 25 August, it is clear that the interest rates and RRR cuts were not only aimed at containing further falls in the SSEC, but to boost activity in the real economy.

Chester Liaw

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The broad based decline in almost all components of the PMI hints the central bank was right in introducing further easing measures on Aug. 25, it is clear that the interest rates and RRR cuts were not only aimed at containing further falls in the SSEC, but to boost activity in the real economy.

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Expect the pace of easing to be increased, or at least maintained, by the authorities through the year, in order for the GDP target of 7 percent to be attained.

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Double-digit industrial production levels will be a thing of the past, it is highly unlikely that retail sales will hold out for long above the 10 percent mark as well.

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This is indicative of the new normal advocated by President Xi, double-digit industrial production levels will be a thing of the past. It is highly unlikely that retail sales will hold out for long above the 10 percent mark as well.

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