Using several data sources, this white paper documents facts of China’s post-lockdown economic recovery in April and May 2020. The main findings are summarized as follows.

  1. Truck flows and online consumption suggest a strong recovery.
  2. The recovery of online job posts stagnated.
  3. Smaller firms cut online job posts more dramatically in the first quarter. Such asymmetry became less pronounced in April.

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BFI Working Paper Oct 16, 2019

The Return to Capital in China

Chong-En Bai, Chang-Tai Hsieh, Yingyi Qian
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Treasury Inconvenience Yields during the COVID-19 Crisis

Zhiguo He, Stefan Nagel, Zhaogang Song
Topics:  COVID-19, Financial Markets