China Beige Book are pretty good when it comes to PRC statistics.
I thought their problem wasn't inflation, but deflation caused by housing prices going down? A rate cut would make sense but the bigger issue is the solvency of their banks. Surely, they have a lot of bad loans that need to be written down but without a proper default process or bankruptcy provisions, it looks like it will take the banks a long time to flush out all the bad investments/loans. They could end up like Japan, (especially with their demographics) but unless the PRC central government starts bailing them out it's going to take a long time to metabolise those bad investments. A lot of people need debt relief to fuel consumption.
