Credit Suisse has a Chinese Whispers Index, which is derived pretty much like PMI (as a diffusion index). They survey people across the country in 61 cities and ask them about things such as inflation expectations, expectation of property prices, and even food safety.
One recent question asked participants whether they think property prices are going to increase or decrease in the coming months, and the resulting index is called “Chinese Whispers Property Sentiment Index (CWPSI)”, with the August result looks something like this (after all of these local governments fine-tuned policies and following two interest rates cuts:
And the history:
Interesting piece of survey. It gives you an idea that if the government is really serious about not letting real estate prices to go up (and it could well be not serious), there are even less reasons to ease policy. Of course, there is simply no need to ease, at least for the time being, as others are doing the PBOC’s job.
Meanwhile, no one likes stocks. Oh, well, not really. 5% do like stocks…
