China Beige Book – Economy stabilized in Q4

China Beige Book survey:

• Economy stabilized in Q4
• China sales, profits, employment all stronger in 2h
• Strong stimulus could see ‘out-of-control’ share gains
• China deflation concerns now justified
• China credit access stunted, just 19% of firms borrowed

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Its called Beige Book because Red Book was already taken*

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*Note – this is untrue

The China Beige Book is a privately conducted survey adapted from methodology used by the U.S. Federal Reserve’s “Beige Book”. It sources a lot of its own data which includes “survey data from over 2,000 Chinese firms each quarter, in-depth interviews across each of its regions and sectors, and a separate banker survey”.