China alt-data trackers chartpack (Series 59)

Research evidence excerpt

China alt-data trackers chartpack (Series 59)

J P M O R G A N Asia Pacific Economic Research

17 July 2026

China alt-data trackers chartpack

(Series 59)

Limited government bond issuance pick-up so far

Emerging Markets Asia, Economic

and Policy Research

Tingting Ge

(852) 2800-0143

tingting.ge@jpmorgan.com

China’s 2Q GDP fell well short of expectations, despite some upside surprise in June Jiayi Li

industrial production. This has prompted a reassessment of the 2H growth trajectory, (852) 2800-5229

jiayi.c.li@jpmorgan.com

with near-term momentum now in focus. We have updated our alt-data trackers (vs.

Tongfang Yuan

our last update) and our key takeaways are below.

(852) 2800-0085

• Exports: Typhoon Bavi disrupted vessel traffic and port operations in the past tongfang.yuan@jpmorgan.com

week. Port tracking shows departing container (-15.4%) and bulk (-9.0%) Feng Zhu

shipping deadweight tonnage both declined in m/m nsa terms mtd in July. (852) 2800 1745

feng.zhu@jpmorgan.com

• In aggregate, departing shipments’ deadweight tonnage (excluding tankers) JPMorgan Chase Bank, N.A., Hong Kong Branch

rose 8.7%oya mtd in July (vs. 17.2% in June), suggesting volume growth is

moderating. But there could be some recovery as port operations normalize.

• Oil tanker arrivals decline narrowed to ~20 %oya mtd (vs. >30% in June).

• CCFI to USEC, USWC rose 8.6%, 14.9%, respectively, compared to two

weeks ago; CCFI to the Persian Gulf/Red Sea route increased 6.6%.

• Production: Processed crude oil production contraction may have narrowed

mtd in July (vs -17.7%oya in June), as petroleum asphalt plants’ operating rates

continued to recover in the first half of July. Auto production volume decline

may have widened (vs -0.2% in June) while steel IP growth may have turned

negative (vs 0.0% in June).