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Understanding China's Economic Indicators: Translating the Data into Investment Opportunities
- By Thomas Orlik
- Published Jul 12, 2011 by FT Press.
- Copyright 2012
- Dimensions: 7" x 9-1/8"
- Pages: 272
- Edition: 1st
- Book
- ISBN-10: 0-13-262019-7
- ISBN-13: 978-0-13-262019-2
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Product Author Bios
Thomas M. Orlik (Beijing, China), market analyst for Stone & McCarthy Research Associates, is a leading economist specializing in China's economy. Orlik is widely quoted and cited by major financial news organizations, including CNBC, The Wall Street Journal, and The Financial Times.
In Understanding China’s Economic Indicators, leading economist and Wall Street Journal columnist Thomas M. Orlik introduces 35 of China's most significant economic statistics. Orlik explains why each indicator matters, how it is collected and computed, and its impact on equity, commodity, and currency markets.
As China has emerged as a central player in the global economy, more and more investors are seeking profitable opportunities there. To choose the right investments, it's crucial to understand China's economic environment–and that means finding, interpreting, and utilizing China's growing base of economic indicators. Orlik helps investors make sense of data on everything from Chinese GDP growth to inflation, unemployment, bond yields, electricity production, and aircraft passenger numbers. He draws on the best information supplied by the Chinese government's statistical agency, ministries, and industry associations, as well as private sources. Each indicator is clearly described, along with a practical discussion of its implications for investors.
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3 of 3 people found the following review helpful
Incredibly well organized and downright useful, By
This review is from: Understanding China's Economic Indicators: Translating the Data into Investment Opportunities (Hardcover)
Customer review from the Amazon Vine™ Program (What's this?)
I was impressed enough with this cogent, well organized work, that I've already recommended that our reference department acquire a copy (mid-sized public university in the midwest).The first thing I checked were the bona fides of the author (Tom Orlick). His pedigree includes being a "China correspondent" for the Wall Street Journal, an advisor to the UK Deputy Directory of the International Monetary Fund, and one of his essays on the quality of Chinese statistics is required reading by the staff of China's National Bureau of Statistics. Also, throw in degrees from London's University College and Harvard University. The intrinsic strength of the book is its cogent and consistent layout as it examines 35 financial indicators. Each chapter is formatted using the same template which is explicitly described at the end of chapter 1. The template includes these, and other sections: What is the indicator? Where can you get it? How often does it come out? Why is it... Read more
3 of 3 people found the following review helpful
Unique handbook on China's macroeconomic data, By ddjiii (Shanghai) - See all my reviews
This review is from: Understanding China's Economic Indicators: Translating the Data into Investment Opportunities (Hardcover)
There are a lot of books on the Chinese economy out there that start with a theory or an agenda. This one "teaches you to fish" so you can easily keep tabs on China's macro data yourself. The author takes a realistic and balanced attitude towards the official data, and helps clarify when to be trustful and when to be skeptical. There are a lot of examples taken from recent economic events illustrating how different indicators behaved in different circumstances, and guidance on how to look at different indicators together, or compare similar ones, to get a more complete picture of what really might be going on. The book is organized in such a way that you can read through it to get an overall picture, and easily refer back to the discussion of a particular indicator when you want to check something. The writing is lively and to my knowledge this kind of practical analysis information is not available elsewhere. Highly recommended for anyone following China's economy.
3 of 3 people found the following review helpful
Excellent,
This review is from: Understanding China's Economic Indicators: Translating the Data into Investment Opportunities (Hardcover)
A thorough exposition on interpreting difficult statistics from the second largest economy in the world. The author has produced a well-reasoned and insightful perspective on China's often misunderstood economic data with a focus on informing concrete investment decisions. Highly recommended reading for anyone investing in or following the economy of the Middle Kingdom.
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Online Sample Chapter
Introduction to Understanding China's Economic Indicators
Table of Contents
Acknowledgments x
About the Author xiii
CHAPTER 1 Introduction 1
The Crush 1
How Reliable Are China’s Economic Statistics? 3
A Month in China’s Economic Data 6
Waiting for Release of the Data—or Not 7
A Year in China’s Economic Data 8
How This Book Works 11
CHAPTER 2 National Output 13
Gross Domestic Product 13
Industrial Value Added 24
Fiscal Revenue and Expenditure 31
Freight and Passenger Traffic 36
China Federation of Logistics and Purchasing’s Purchasing Managers Index 40
HSBC Markit Purchasing Managers Index 45
Market News International China Business Survey 48
National Bureau of Statistics Leading Economic Indicator 53
Conference Board Leading Economic Indicator 58
Organization for Economic Cooperation and Development Composite Leading Indicator 62
CHAPTER 3 Investment and Real Estate 67
Fixed Asset Investment 67
Real Estate Prices, Investment, Sales, and Construction 75
China Real Estate Index System 84
CHAPTER 4 Household Sector 89
Retail Sales 89
Urban and Rural Household Surveys 94
National Bureau of Statistics Consumer Confidence Index 101
INTAGE China Consumer Sentiment Survey 105
CHAPTER 5 External Sector 109
Trade 109
U.S. Import Price Index 121
Foreign Direct Investment 125
Balance of Payments 130
Foreign Exchange and Gold Reserves 136
Treasury International Capital System 142
CHAPTER 6 Labor Markets 149
Urban Wages 149
Unemployment 158
Public Employment Services Labor Market Supply-and-Demand Situation 162
CHAPTER 7 Prices 169
Consumer Price Index 169
Indices of Urban Residents’ Confidence on Income and Price Level 177
Producer Price Index 181
Bond Market Yield Curve 185
CHAPTER 8 Financial Indicators 193
Sources and Uses of Funds of Financial Institutions 193
Money Supply 200
Nonperforming Loans 204
China Foreign Exchange Trading System Central Parities 209
Hong Kong Banking System Yuan Deposits 215
People’s Bank of China Reports 218
Index 225
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