China Producer Price Index (YoY) registered at -5.3% above expectations (-5.4%) in January

China's January CPI came in at 1.8% y/y, which is slightly below 1.9% expected, while the PPI was also a tad lower at -5.3% y/y vs -5.4% last. On a mothly basis, Jan figures were flat at 0.5%, in line with both expectations and last.