Osaka

Financial Report Reveals Chinas Slowdown May Be Easing

Osaka Financial says a raft of data from China may be providing early signs that the worst of its
economic slowdown may be over.

Osaka Financial says that it still regards China as being more likely to represent the leading growth story
in 2015 than the United States. The firms prediction came as a slew of more positive data emerged
from the worlds second biggest economy including May retail sales that showed a 10.1% rise over the
same period last year.

The increase was slightly better than last months 10% increase but Kimi Inoue who leads Asia-Pacific
markets research at Osaka Financial said, The real story here is the fact that policymakers efforts to
rebalance the economy towards greater reliance upon domestic consumption appears to working and
working quite well.

Elsewhere in the economy, official industrial output data for May rose 6.1% from a year earlier in line
with broad-based estimates and slightly ahead of the 5.9% gain in April. However, fixed-asset
investment in the January-to-May timeframe missed forecasts for a 12% increase, rising only 11.4%
year-on-year and suggesting Chinas economy is still slowing.

A solid service sector appears to indicate that employment creation in the worlds most populous
country is keeping pace with growth in a workforce that has relied upon industrial expansion for jobs
growth.

The countrys not out of the woods yet but the pace of the slowdown appears to be slowing and, with
further stimulus likely from the central bank, Osaka Financial is confident China will still be the dominant
growth engine in the global economy, added Inoue.

Osaka Financial did sound a note of caution over the pace of the boom in mainland Chinese stock indices
warning that short-term corrections were possible and advising against chasing prices.

About Osaka Financial
Established in 2007, Osaka Financial is a fully-independent investment and asset management practice
providing bespoke financial and wealth management solutions to individuals and families who need to
build upon and conserve their wealth. We provide a comprehensive range of services including asset
management, retirement planning and portfolio design.

Staffed by a number of exceptionally well-qualified finance professionals, Osaka Financials business

philosophy reflects the core values of its founders: uncompromising independence, clarity,
performance, fiduciary responsibility and integrity.

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