HSBC dumps China PMI

I don't know what it is with HSBC and the Australian Financial Review today ... here is post 2 out of 2 on the combination ...

HSBC's sponsorship of the private sector PMI is at an end (as of this month)

HSBC and Markit have published the PMI together for the last five years

The AFR approached a party who was asked to take up where HSBC left off ... and this:

"If you are a sizeable bank that wants to do more business in China you don't want to make parts of the Chinese government angry," said the person who asked not to be named. "Sponsoring the survey is likely to affect your future business expansion in China."

Putting your name to such a high profile survey therefore makes you a target for China's regulators, according to the source.

"We don't want any extra attention," he said.

That's a shame.

The full article is here: HSBC dumps China PMI as Beijing tightens information flows