\u00c7in\u2019in son ayl\u0131k verileri kar\u0131\u015f\u0131k bir tablo ortaya koydu: \u00fcretim daha g\u00fc\u00e7l\u00fc seyrederken, t\u00fcketici talebi zay\u0131f kald\u0131. 1. \u00e7eyrek GSYH (bir \u00fclkenin toplam \u00fcretim ve gelirini \u00f6l\u00e7en \u201cgayrisafi yurt i\u00e7i has\u0131la\u201d) y\u0131ll\u0131k bazda %5,0 artt\u0131 ve piyasadaki %4,8\u2019lik beklentinin \u00fczerine \u00e7\u0131kt\u0131.<\/p>\n
Sanayi \u00fcretimi (fabrika ve madenlerdeki \u00fcretim miktar\u0131) y\u0131ll\u0131k %5,7 y\u00fckselerek %5,3 beklentisini a\u015ft\u0131; art\u0131\u015fta ihracat b\u00fcy\u00fcmesi etkili oldu. Perakende sat\u0131\u015flar (hanehalk\u0131 harcamalar\u0131n\u0131n \u00f6nemli g\u00f6stergesi) martta y\u0131ll\u0131k %1,7 artt\u0131; ilk iki ay\u0131n ortalamas\u0131 olan %2,8\u2019in alt\u0131nda kald\u0131.<\/p>\n
Konut fiyatlar\u0131 ayl\u0131k bazda %-0,21 gerileyerek \u00f6nceki d\u00f6nemlere g\u00f6re daha s\u0131n\u0131rl\u0131 d\u00fc\u015ft\u00fc. \u0130\u015fsizlik oran\u0131 martta %5,4\u2019e \u00e7\u0131kt\u0131; \u015fubatta %5,3\u2019t\u00fc. Bu seviye, ge\u00e7en y\u0131l \u015fubattan beri en y\u00fcksek d\u00fczey.<\/p>\n
Veri sonras\u0131 \u00c7in hisselerinde risk i\u015ftah\u0131 (yat\u0131r\u0131mc\u0131lar\u0131n riskli varl\u0131klara y\u00f6nelme e\u011filimi) artt\u0131 ve CNY (\u00c7in yuan\u0131) hafif g\u00fc\u00e7lendi. <\/p>\n
\u00c7in ekonomisinde belirgin bir ayr\u0131\u015fma g\u00f6r\u00fcl\u00fcyor ve bu durum belirli f\u0131rsatlar yarat\u0131yor. G\u00fc\u00e7l\u00fc %5,0\u2019lik 1. \u00e7eyrek GSYH ve sanayi \u00fcretimi verileri piyasay\u0131 desteklerken, mart perakende sat\u0131\u015flar\u0131ndaki %1,7\u2019lik zay\u0131f art\u0131\u015f, i\u00e7 t\u00fcketicinin h\u00e2l\u00e2 zorland\u0131\u011f\u0131n\u0131 g\u00f6steriyor. Bu \u201ciki farkl\u0131 h\u0131z\u201d g\u00f6r\u00fcn\u00fcm\u00fc, yerel harcamaya ba\u011f\u0131ml\u0131 alanlar yerine k\u00fcresel ticarete ba\u011fl\u0131 sekt\u00f6rleri \u00f6ne \u00e7\u0131kar\u0131yor.<\/p>\n
Bu \u00fcretim g\u00fcc\u00fc, G\u00fcmr\u00fck Genel \u0130daresi\u2019nin verileriyle de destekleniyor: ihracat martta y\u0131ll\u0131k %7,1 artt\u0131 ve beklentileri a\u015ft\u0131. Bu \u00e7er\u00e7evede yat\u0131r\u0131mc\u0131lar, \u00c7in odakl\u0131 sanayi ve ihracat a\u011f\u0131rl\u0131kl\u0131 ETF\u2019lerde (endeks fonu; bir sepet hisseyi izleyen ve borsada i\u015flem g\u00f6ren fon) al\u0131m opsiyonu (\u201ccall\u201d; belirli fiyattan alma hakk\u0131) d\u00fc\u015f\u00fcnebilir. K\u00fcresel tedarik zincirleri (\u00fcr\u00fcn\u00fcn hammaddeden nihai \u00fcr\u00fcne kadar ge\u00e7ti\u011fi \u00fcretim ve ta\u015f\u0131ma a\u011f\u0131) normale d\u00f6nerken bu e\u011filim g\u00fc\u00e7l\u00fc g\u00f6r\u00fcn\u00fcyor.<\/p>\n
Buna kar\u015f\u0131l\u0131k t\u00fcketici zay\u0131fl\u0131\u011f\u0131 kal\u0131c\u0131 bir bask\u0131 unsuru. Benzer bir tablo 2025 ortas\u0131nda da g\u00f6r\u00fclm\u00fc\u015ft\u00fc; zay\u0131f t\u00fcketici verilerini, ayn\u0131 y\u0131l\u0131n 4. \u00e7eyre\u011finde Pekin\u2019in hedefli te\u015fvik ad\u0131mlar\u0131 izlemi\u015fti. Bu nedenle, t\u00fcketim odakl\u0131 ve \u201czorunlu olmayan harcama\u201d \u015firketlerinde (t\u00fcketici iste\u011fe ba\u011fl\u0131; \u00f6r. dayan\u0131kl\u0131 t\u00fcketim, e\u011flence) sat\u0131m opsiyonu (\u201cput\u201d; belirli fiyattan satma hakk\u0131) almak, i\u00e7 talepte daha fazla yava\u015flamaya kar\u015f\u0131 korunma (hedge; riski azaltmak i\u00e7in kar\u015f\u0131 pozisyon) sa\u011flayabilir.<\/p>\n
\u0130zlenecek ana tetikleyici, \u00f6zellikle \u0130ran kaynakl\u0131 jeopolitik gerilimlerin ihracat\u0131 daha sert etkilemesi halinde, politika yap\u0131c\u0131lar\u0131n olas\u0131 bir te\u015fvik paketi a\u00e7\u0131klamas\u0131. \u0130\u015fsizli\u011fin %5,4\u2019e y\u00fckselmesi, Pekin \u00fczerindeki harekete ge\u00e7me bask\u0131s\u0131n\u0131 art\u0131r\u0131yor. \u00d6n\u00fcm\u00fczdeki haftalarda \u00f6nemli politika toplant\u0131lar\u0131 \u00e7evresinde piyasa oynakl\u0131\u011f\u0131n\u0131n (fiyat dalgalanmas\u0131n\u0131n) y\u00fckselmesi beklenebilir.<\/p>\n
CNY\u2019deki s\u0131n\u0131rl\u0131 g\u00fc\u00e7lenmenin ge\u00e7ici olmas\u0131 muhtemel; te\u015fvik beklentisi ve olas\u0131 faiz indirimleri (merkez bankas\u0131n\u0131n bor\u00e7lanma maliyetini d\u00fc\u015f\u00fcrmesi) para birimi \u00fczerinde bask\u0131 yaratabilir. Bu da ileride yuan\u0131n zay\u0131flamas\u0131na y\u00f6nelik pozisyon almak i\u00e7in f\u0131rsat olarak g\u00f6r\u00fclebilir. \u00c7in hisselerindeki olumlu hava ise k\u0131r\u0131lgan ve b\u00fcy\u00fck \u00f6l\u00e7\u00fcde h\u00fck\u00fcmetin ad\u0131mlar\u0131 atmas\u0131na ba\u011fl\u0131.<\/p>\n","protected":false},"excerpt":{"rendered":"
\u00c7in\u2019de s\u00fcrpriz b\u00fcy\u00fcme ama i\u00e7 talep alarm veriyor: 1\u00c7 GSYH %5,0, sanayi %5,7 ile g\u00fc\u00e7l\u00fc; perakende %1,7 zay\u0131f. \u0130hracat %7,1 desteklerken i\u015fsizlik %5,4\u2019e \u00e7\u0131kt\u0131; te\u015fvik beklentisi ve CNY bask\u0131s\u0131 artt\u0131.<\/p>\n","protected":false},"author":87,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[71],"tags":[],"class_list":["post-44829","post","type-post","status-publish","format-standard","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/44829","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/users\/87"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/comments?post=44829"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/posts\/44829\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/media?parent=44829"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/categories?post=44829"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/tr-mena\/wp-json\/wp\/v2\/tags?post=44829"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}