Investors have found another way to judge China's economy

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      The weak performance of Apple (AAPL.O) in China worries investors - Apple's performance is a classic indicator of China's demand and economic situation.
Brendan Ahern, chief investment officer of Krane Funds Advisors in New York, said good future performance showed that although China's economy may show painful signs as a result of the Sino-US trade war, some sectors of China's economy are still doing well.
"Through some research in China, you may come to the opposite conclusion from the view of China as a whole," Ahern said.
Ahern is not alone. Foreign investors eager to learn about China's economic situation have been distrustful of official data for years.
Many official data models are based on input data such as car sales or air traffic, and even indicators such as comments from food and cosmetics companies.
"Many people in China are looking for other sources of data as a reflection of economic growth, not just official data," said Ross Hutchison, fund manager of Andersen Standard Investment Management in Edinburgh. "I think it's helpful to consider the'micro'situation. You can better understand the actual state of activity."
In 2018, even if the trade war hit exports and domestic investment, China's official GDP growth rate was still 6.6%, as before, steadily falling within the official target range.
This is China's lowest growth rate in 28 years, but still almost twice the global average of 3.7%.
"There will always be doubts, and there will always be doubts," said Michael O'Rourke, chief market strategist at Jones Trading in Greenwich, Connecticut.


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