China (world's 2nd largest economy) data releases move commodity prices, EM currencies, and Asia-Pacific equities. Key indicators: (1) Caixin Manufacturing PMI (more private-sector focused) and NBS PMI (official, larger sample) — watch for divergence between them. A China PMI drop below 49 often triggers 2-5% falls in KOSPI, ASX 200, and commodity stocks globally. (2) GDP growth rate — China targets ~5% growth; a miss by >0.5% signals policy stimulus ahead, which can actually boost markets. (3) Trade data (exports/imports) — a proxy for global demand. Falling Chinese exports signal weakening world economy. (4) Credit data (Total Social Financing) — the leading indicator of China's growth impulse. Acceleration = bullish for copper, iron ore, AUD. (5) Property sector data (new home sales, construction starts) — affects iron ore, steel, cement stocks globally. (6) Youth unemployment rate — a social stability gauge that influences policy response speed.