NBS Announces All Is Well

NBS put out a press release listing all the good things in the Chinese economy: 1-2月份国民经济运行稳中向好

Industrial production was steady in February. 2017年1-2月份规模以上工业增加值增长6.3%

Fixed asset investment steady in Jan-Feb, rising 8.9 percent. 2017年1-2月份全国固定资产投资(不含农户)增长8.9%

However, funding plunged.
Among them, the national budget funds fell 11.3% , last year growth was 17.1% ; domestic loans fell 1.4% last year growth was 9.9% ; self-financing fell 19% , down 18.9 percentage points from last year

Private investment doubled from the 2017 growth rate, helped by a big jump in service sector investment. SOE investment is still pulling total FAI higher.2017年1-2月份民间固定资产投资增长6.7%

Real estate investment growth climbed to 8.9 percent. 2017年1-2月份全国房地产开发投资和销售情况

Funding fell here too.

Land sales swung to positive growth.

A comparison of sales area to sales in yuan shows the shift to third- and fourth-tier cities. The yellow line is area, climbing to 25.1 percent growth. The blue line is sales is yuan, plunging to 26 percent growth.

Finally, retail sales growth slows. 2017年1-2月份社会消费品零售总额增长9.5%

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