Greater China Banks Daily "China’s May PPI rose 3.9% YoY, the highest re..."

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Greater China Banks Daily "China’s May PPI rose 3.9% YoY, the highest re..."

Global Research

11 June 2026ab

Greater China Banks Daily Equities

ChinaChina’s May PPI rose 3.9% YoY, the highest

reading since July 2022; Vanke obtained Banks

approval to extend two Rmb2bn MTNs MayAnalystYan

may.yan@ubs.com

+852-2971 7157

China’s May PPI rose 3.9% YoY, the highest reading since July 2022 Alex Ye

Analyst

Reuters, Jun 10: China’s producer price index (PPI) rose 3.9% YoY in May, marking its S1460522090005

highest reading since July 2022, according to NBS data. The figure came in above alex.ye@ubs.com

Reuters’ poll estimate of 3.8% and accelerated from 2.8% in April. A key driver of the +86 755 2215 8858

increase was stronger demand for computing power, which pushed up prices in non-

Catherine Yang, CFA

ferrous metal mining (+36.5% YoY) and smelting (+24.0%). In addition, disruptions to Analyst

shipping through the Strait of Hormuz amid the Iran conflict contributed to a 10% S1460526010003

increase in factories’ fuel and power procurement costs. On the consumer side, CPI rose catherine-za.yang@ubs.com

a more modest 1.2% YoY in May, below Reuters’ 1.3% estimate and slightly lower than +86-755-2215 8860

April’s reading. Excluding the rise in gasoline prices (+23.5%), core CPI stood at 1.1% Helen Li, CFA

YoY in May, down 0.1ppt from April. The relatively subdued CPI suggests that consumer Analyst

demand remains soft despite rising upstream price pressures. helen-za.li@ubs.com

+852-2971 6066

Vanke obtained approval to extend two Rmb2bn MTNs

CLS, Jun 10: China Vanke said holders of its two medium-term notes, 23 Vanke MTN003

and 23 Vanke MTN004, unanimously approved extension plans at the first 2026

bondholder meetings. Under the approved terms, each consenting holder account will