China December economic activity data beats across all 3 indicators

China data.

The activity data is centred on 3 indicators: industrial production, retail sales and fixed asset investment.

That's a very impressive beat on Retail Sales in particular.

More:

Nationwide jobless rate 5.5%

• expected 5.8%, prior 5.7%

The data from the property sector is very soft indeed, as you'd expect:

• China 2022 funds raised by Chinese real estate developers -25.9% y/y
• China 2022 property sales by floor area -24.3% y/y (biggest fall since this data was made available in 1992)
• China 2022 new construction starts -39.4% y/y
• China 2022 property investment -10.0% y/y (the first fall since the record began in 1999)

Chinese authorities have rolled out a series of support policies targeting homebuyers and property developers in recent weeks. These are aimed at relieving the long-running liquidity Liquidity Liquidity refers to the extent of a financial instrument’s ability to be bought or sold without causing price fluctuations. Thus, if an asset is extremely liquid, it means one can trade that asset in the knowledge that one’s specific dealing won’t create significant movements in the market.This is because there exists such a large number of traders going both long and short, generating huge volume for that particular asset. Liquidity in the FX MarketTake the example of the foreign exchange marke Liquidity refers to the extent of a financial instrument’s ability to be bought or sold without causing price fluctuations. Thus, if an asset is extremely liquid, it means one can trade that asset in the knowledge that one’s specific dealing won’t create significant movements in the market.This is because there exists such a large number of traders going both long and short, generating huge volume for that particular asset. Liquidity in the FX MarketTake the example of the foreign exchange marke Read this Term squeeze that has hit developers and delayed the completion of many housing projects.