# Instant View: China's Q2 GDP growth slows to 0.8% q/q, raises stimulus expectations

> China's Q2 GDP grew 0.8% quarter-on-quarter, slower than expected, prompting stimulus expectations. The yuan lost about 0.37% to 7.1680 per dollar after the release and hit 8-month lows recently, down more than 3% year-to-date.

- Date: 2023-07-17 · published 2023-07-17T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/35264-instant-view-china-s-q2-gdp-growth-slows-to-0-8-q-q-raises-stimulus-expectations
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Weak Chinese growth signals softer feed demand from the largest importer, while yuan weakness raises import costs, pressuring soybean and meal buying.

## Read by commodity

- SBM: bearish ▼
- USDCNY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-09-24 | [China's yuan surges to 16-month peak on new stimulus measures](https://feedsoft.ai/events/28554-china-s-yuan-surges-to-16-month-peak-on-new-stimulus-measures.md) | -0.5% | +1.0% |
| USDCNY | 2019-08-13 | [China sets yuan mid-point at fresh 11-yr low, but remains firmer than expectations \| Reuters](https://feedsoft.ai/events/57791-china-sets-yuan-mid-point-at-fresh-11-yr-low-but-remains-firmer-than.md) | -0.1% | +0.8% |
| USDCNY | 2025-08-04 | [China's yuan rebounds from 2-month low on weak US jobs and Fed rate cut expectations \| MarketScreener](https://feedsoft.ai/events/10144-china-s-yuan-rebounds-from-2-month-low-on-weak-us-jobs-and-fed-rate-cut.md) | -0.4% | -1.1% |
| USDCNY | 2021-12-08 | [China’s yuan strengthens as trade surplus hits US$72 billion in November amid robust export growth \| South China Morning Post](https://feedsoft.ai/events/11295-china-s-yuan-strengthens-as-trade-surplus-hits-us-72-billion-in-november-amid.md) | +0.0% | +0.3% |
| USDCNY | 2024-02-20 | [Korean Won, Chinese Yuan Set to Gain as US Interest Rates Expected to Drop](https://feedsoft.ai/events/31906-korean-won-chinese-yuan-set-to-gain-as-us-interest-rates-expected-to-drop.md) | +0.1% | +0.1% |
| SBM | 2020-05-19 | [Vietnam: External headwinds likely to weigh on growth - Standard Chartered - Forex Crunch](https://feedsoft.ai/events/53427-vietnam-external-headwinds-likely-to-weigh-on-growth-standard-chartered-forex.md) | -0.4% | +1.0% |
| SBM | 2023-09-29 | [China Brief 97 \| China's recovery stalls, Canada-India tensions and trade, and a change to China Brief Canada West FoundationCanada West Foundation](https://feedsoft.ai/events/34055-china-brief-97-china-s-recovery-stalls-canada-india-tensions-and-trade-and-a.md) | -4.6% | +9.0% |
| SBM | 2022-02-28 | [Soymeal Demand Slowing in China](https://feedsoft.ai/events/42704-soymeal-demand-slowing-in-china.md) | +4.2% | +9.0% |

## Sources

- reuters.com: https://www.reuters.com/markets/asia/view-chinas-q2-gdp-growth-slows-08-qq-just-above-expectations-2023-07-17/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.