Bankinter | The CPI in China moderates to 0.2% year-on-year against 0.4% expected and 0.8% previously, while Industrial Prices accelerated to negative 1.4% against -1.5% expected and -1.9% previously. Analysis team’s view: Negative impact. Inflation moderates more than expected, although it is distorted by a base effect comparing January 2025, when Chinese New Year was celebrated, versus January 2026, when there was no such holiday as this year it begins…

Bankinter | Commercial banks have kept one-year and five-year rates unchanged for the seventh consecutive month at 3.0%, in line with consensus expectations. These rates are used as a benchmark for short-term corporate loans. Five-year rates remain at 3.50%, also in line with estimates. These five-year rates are the benchmark for mortgage loans. The last time cuts were made was in May. Analysis team’s view: The deterioration of the economy…

Bankinter | Yesterday marked the biggest online shopping event of the year in China (and the world), known as ‘Singles’ Day’ (11.11). Launched in 2009 by Alibaba as a promotional event, it has grown in duration over the years. In 2025, it began on 9 October (JD.com) and 11 October (Alibaba), the earliest start in its history, resulting in a duration of five weeks compared to 28 days in 2024…

Norbolsa | Over the weekend, China released its October price data, showing a slight slowdown in producer price deflation (down 2.1% against the 2.2% drop expected), while the CPI rose 0.2% against the 0.1% drop expected, reflecting the effects of measures being taken to curb overcapacity and limit competition. In any case, the deflation problem is not over yet, as we have yet to see more vigorous demand. On the…

Link Securities | According to data from the General Administration of Customs, China’s trade surplus reached $90.07 billion in October, lower than the $95.6 billion expected by the consensus of analysts and the $95.72 billion recorded in the same month last year. This is the lowest trade surplus since February, as exports fell unexpectedly while imports increased. Specifically, exports fell 1.1% year-on-year, compared to the expected 3% increase, reversing September’s…