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MIZUHO CHINA MONTHLY
The South China & Asia Business Report
Mizuho Economic Commentary - China
Industry Reports
Mizuho Industry Research Vol.28
Country Reports
Economic Reports
MHRT's e–mail magazine

Market Outlooks

Mizuho Dealer's Eye

Forex Medium-Term Outlook

Information and Reports on China

Utilizing its extensive network of offices in China, Mizuho sends out business, market and economic information. Furthermore, Mizuho is realizing a diverse range of RMB settlement solutions and offers a wide array of services and support.

What's New

Mizuho China Business Express Economic Journal

See also: Mizuho China Business Express Reports

MIZUHO CHINA MONTHLY

Mizuho Economic Commentary – China

Mizuho China Business Express Economic Journal

The South China & Asia Business Report

Market Trends

Information and commentary from Hong Kong on the current market and future prospects regarding wildly fluctuating RMB exchange rates, interest rates and stocks.

Mizuho Bank 2021 RMB Outlook (Aug, 2021) [Steady but headwinds evolving](PDF/1,602KB)

Mizuho Bank 2021 RMB Outlook (Jul, 2021) [The resilience of RMB](PDF/1,531KB)

Mizuho Bank 2021 RMB Outlook (Jun, 2021) [The return of RMB rally](PDF/1,529KB)

Mizuho Bank 2021 RMB Outlook (May, 2021) [The return of RMB rally](PDF/1,452KB)

Offshore RMB Market Report

Comments on offshore RMB exchange rates, interest rates and stocks from the Hong Kong Treasury Division.

May 30, 2025 Offshore RMB Market Report[PBoC scaled back its CNY fixing support](PDF/309KB)

May 23, 2025 Offshore RMB Market Report[CNH held steady around 7.20 level](PDF/230KB)

May 9, 2025 Offshore RMB Market Report[China and US to start the first round of official trade talks](PDF/191KB)

May 2, 2025 Offshore RMB Market Report[Hopes for China-US trade talks boosted the CNH](PDF/157KB)

Apr 17, 2025 Offshore RMB Market Report[CNH spot steadier amid hopes for China-US talks](PDF/195KB)

Apr 11, 2025 Offshore RMB Market Report[CNH rebounded after hitting its record low](PDF/221KB)

Apr 3, 2025 Offshore RMB Market Report[PBoC kept CNY fixing steady after Trump's tariff day](PDF/279KB)

Mar 28, 2025 Offshore RMB Market Report[PBoC refrained from weakening the CNY fixing further](PDF/190KB)

Mar 21, 2025 Offshore RMB Market Report[The CNY fixing weakened to its 2-month low of 7.1760](PDF/199KB)

Mar 14, 2025 Offshore RMB Market Report[CNH remained range-bound amid escalating global trade war](PDF/275KB)

Mar 07, 2025 Offshore RMB Market Report[CNH gained more resilience against US tariff hikes](PDF/235KB)

Feb 14, 2025 Offshore RMB Market Report[CNH recovered to below 7.3 level on the delayed Trump's reciprocal tariffs](PDF/238KB)

Feb 07, 2025 Offshore RMB Market Report[CNH settled below 7.3 despite Trump's 10% tariff implementations](PDF/264KB)

Jan 24, 2025 Offshore RMB Market Report[CNH rebounded 7.25 level as Trump softened his tone on China tariffs](PDF/272KB)

Jan 17, 2025 Offshore RMB Market Report[China achieved its annual growth target of 5%](PDF/235KB)

Jan 10, 2025 Offshore RMB Market Report[The PBoC set the CNY fixing steady below 7.19 level](PDF/197KB)

Jan 3, 2025 Offshore RMB Market Report[CNY breached 7.3 level for the fist time since Nov 2023](PDF/261KB)

Dec 20, 2024 Offshore RMB Market Report[CNH hit 13-month low of 7.3269 on the back of USD rally](PDF/239KB)

Dec 12, 2024 Offshore RMB Market Report[Chinese leaders vowed to implement moderately loose monetary policy](PDF/232KB)

Nov 29, 2024 Offshore RMB Market Report[RMB showed resilience against Trump's tariff hikes](PDF/264KB)

Nov 22, 2024 Offshore RMB Market Report[PBoC ramped up CNY fixing supporty](PDF/261KB)

Nov 15, 2024 Offshore RMB Market Report[PBoC reactivated its CNY fixing policy support](PDF/233KB)

Nov 08, 2024 Offshore RMB Market Report[CNH tumbled after Trump's victory](PDF/191KB)

Nov 01, 2024 Offshore RMB Market Report[CNH trading is set to become volatile next week](PDF/235KB)

Oct 25, 2024 Offshore RMB Market Report[CNH hovered around 7.13 level](PDF/190KB)

Oct 18, 2024 Offshore RMB Market Report[CNH dropped as stimulus expectations dwindled](PDF/197KB)

Oct6 10, 2024 Offshore RMB Market Report[CNH weakened after the long holiday](PDF/241KB)

Economic Information

An introduction to periodic reports on the Chinese economy and industry, along with analysis reports on topics according to current trends.

Various Reports

MIZUHO CHINA MONTHLY

Reports on the latest trends in China's economy, regional policy, legal affairs and taxation, etc.

Mizuho Economic Commentary – China

An overview of the Chinese economy compiled by Mizuho Research＆Technologies, Ltd.

The South China & Asia Business Report

Up–to–the–minute information on economic and industry trends in South China and Asia.

Mizuho China Business Express Economic Journal

Up–to–the–minute information on China's macro economy.

MIZUHO CHINA MONTHLY

Reports on the latest trends in China's economy, regional policy, legal affairs and taxation, etc.

Title Date of Release Summary

MIZUHO CHINA MONTHLY <June 2021>(PDF/1,660KB)

 Jul 19, 2021 The PBOC moves to control financial risk

MIZUHO CHINA MONTHLY <April 2021>(PDF/827KB)

 Jul 06, 2021 The 2021 NPC and the Chinese Policy Outlook

MIZUHO CHINA MONTHLY <Feb 2021>(PDF/1,226KB)

 Mar 30, 2021 Chinese Economic Policy in 2021, A Review of China’s Low Carbon Development Policy and its Sustainable Development Prospects

MIZUHO CHINA MONTHLY <Jan 2021>(PDF/641KB)

 Mar 12, 2021 Will the Supply Chain “Escape Dependence on China” after Covid-19?

MIZUHO CHINA MONTHLY <June 2020>(PDF/1,308KB)

 Sep 08, 2020 China’s Progress in Poverty Reduction and Achievements and Challenges on the Road to Building a Moderately Prosperous Society for All

MIZUHO CHINA MONTHLY <March 2020>(PDF/529KB)

 Apr 28, 2020 Regulations in the Chinese Capital Market

MIZUHO CHINA MONTHLY <February 2020>(PDF/102KB)

 May 18, 2020 China’s Economic Policy Direction in 2020

MIZUHO CHINA MONTHLY <December 2019>(PDF/450KB)

 Dec 16, 2019 Deciphering China’s "Fourth Plenum" Communique

MIZUHO CHINA MONTHLY <October 2019>(PDF/546KB)

 Nov 05, 2019 Slowing exports dampening China's manufacturing investment

MIZUHO CHINA MONTHLY <August 2019>(PDF/455KB)

 Sep 10, 2019 Private Enterprises and Small and Micro Businesses Are Receiving More Financial Support in China

MIZUHO CHINA MONTHLY <June 2019>(PDF/1,556KB)

 Jul 22, 2019 The Impact of US–China Tensions on China's Exports as Seen in US Statistical Data, Observations about current monetary policy and the markets

MIZUHO CHINA MONTHLY <May 2019>(PDF/728KB)

 Jul 16, 2019 Stronger measures on China’s "Three Rural Issues" as they enter a new phase and the prospects for the development of agriculture and rural areas

MIZUHO CHINA MONTHLY <April 2019>(PDF/457KB)

 Jun 25, 2019 The 2019 NPC and China’s Policy Outlook, Characteristics of Chinese Stocks and a Related Future Outlook

MIZUHO CHINA MONTHLY <March 2019>(PDF/357KB)

 Apr 23, 2019 Business Opportunities for Foreign Joint–venture Securities Companies, The Impact of U.S./China Trade Frictions

MIZUHO CHINA MONTHLY <February 2019>(PDF/1,073KB)

 Apr 09, 2019 Chinese Housing Market: Entering an Adjustment Phase, Foreign direct investment in China: Development outcomes and the outlook for the future Part 2

MIZUHO CHINA MONTHLY <January 2019>(PDF/1,680KB)

 Mar 19, 2019 Foreign direct investment in China: Development outcomes and the outlook for the future Part 1, China’s Changing Pharmaceuticals Market

MIZUHO CHINA MONTHLY <December 2018>(PDF/1,486KB)

 Feb 26, 2019 China has started to prioritize stability, The expansionary trend in China’s outbound FDI under the Belt and Road strategy and the outlook for the future Part 1: An Overview, Comparison Between the Current Situation and the Time of the Chinese Financial Crisis from the Viewpoint of Capital Outflow

MIZUHO CHINA MONTHLY <November 2018>(PDF/812KB)

 Feb 26, 2019 Chinese Bond Market: Attracting More Attention, The expansionary trend in China’s outbound FDI under the Belt and Road strategy and the outlook for the future Part 2: China’s Outbound FDI by Region, Latest Trends of the Chinese Insurance Market: Toward Deregulation

MIZUHO CHINA MONTHLY <October 2018>(PDF/1,011KB)

 Nov 29, 2018 China has started to prioritize stability, The expansionary trend in China’s outbound FDI under the Belt and Road strategy and the outlook for the future Part 1: An Overview, Comparison Between the Current Situation and the Time of the Chinese Financial Crisis from the Viewpoint of Capital Outflow

MIZUHO CHINA MONTHLY <September 2018>(PDF/1,123KB)

 Nov 29, 2018 China’s Environmental Crackdown: its Outcomes, Challenges and Future Prospects, Introduction to the Hainan Boao Lecheng International Medical Tourism Pilot Zone

MIZUHO CHINA MONTHLY <August 2018>(PDF/1,035KB)

 Sep 18, 2018 China’s “Internet Plus”: Facilitating New Industrial Development, The U.S.-China Trade War and Its Impact on the Financial Market

MIZUHO CHINA MONTHLY <July 2018>(PDF/326KB) 

 Jul 24, 2018 Financial Cooperation Between Japan and China Entering a New Phase

MIZUHO CHINA MONTHLY <June 2018>(PDF/812KB) 

 Jul 24, 2018 The Re-evaluation of China by Japanese Companies as an Area for Business Expansion, New trends in China’s solar photovoltaic sector against the rising tide of a new industrial revolution, Challenging the “Trilemma” in International Economics: Future Economic Policy Management in China

MIZUHO CHINA MONTHLY <May 2018>(PDF/264KB)

 Jun 26, 2018 Economic Policy in the Post–reform of Party and State Institutions, Potential for Sino–Japanese Collaboration on the Belt and Road Initiative

MIZUHO CHINA MONTHLY <Apr 2018>(PDF/776KB)

 May 29, 2018 2018 National People’s Congress and China’s Policy Outlook, The Past and Future of the Chinese Yuan Exchange Market as Examined Through the Currency Options Market

MIZUHO CHINA MONTHLY <Mar 2018>(PDF/1,187KB)

 Apr 11, 2018 Future Outlook for Panda Bonds and Chinese Yuan Financing, IThe construction initiative behind the Xiongan New Area plan and the prospects for its future

MIZUHO CHINA MONTHLY <Jan 2018>(PDF/1,405KB)

 Mar 20, 2018 Economic Growth Prospects and Future Outlook for the Two Major Midwestern Urban Centers in Yangtze River Economic Belt Part 2: Chongqing, Importance of Policy Bank Bonds in the Time of the Internationalization of the Chinese Bond Market through the Bond Connect Program

MIZUHO CHINA MONTHLY <Dec 2017>(PDF/1,602KB)

 Jan 23, 2018 General Secretary Xi Jinping’s Vision on the Path toward Building China into a "Strong Country", Economic Growth Prospects and Future Outlook for the Two Major Midwestern Urban Centers in Yangtze River Economic Belt – Part 1: Wuhan, Examination of the Open–market Policy toward the Internationalization of the Chinese Yuan

MIZUHO CHINA MONTHLY <Oct 2017>(PDF/457KB)

 Nov 21, 2017 The 19th NCCPC and the Challenges for the Xi Government in its Second Term

MIZUHO CHINA MONTHLY <Aug 2017>(PDF/678KB)

 Nov 28, 2017 Mid–term outlook for the Chinese economy, Examination Regarding the Change in the Fixing Rules for the People’s Bank of China Central Parity Rate

MIZUHO CHINA MONTHLY <Jul 2017>(PDF/730KB)

 Nov 28, 2017 The Status of China’s Sharing Economy and its Prospects Going Forward

MIZUHO CHINA MONTHLY <Jun 2017>(PDF/1,446KB)

 Nov 28, 2017 Observations of Debt–equity Swaps Attracting Attention Again in China, The Implementation of and Prospects for China’s Medium– and Long–term Development Plan for the Automotive Industry, Outlook for the Chinese Yuan Exchange Market Based on the Trade Environment

MIZUHO CHINA MONTHLY <May 2017>(PDF/1,117KB)

 Nov 28, 2017 The Benefits to China of Implementing its “Plan for the Development of a Modernized Comprehensive Transport System (2016–2020)” and its Expected Outcomes (Part 2), Fund–raising via investment companies

MIZUHO CHINA MONTHLY <Apr 2017>(PDF/1,340KB)

 Nov 28, 2017 Key Areas of the 2017 National People’s Congress: Before the Communist Party Congress, Priority Placed on Stability, The Benefits to China of Implementing its “Plan for the Development of a Modernized Comprehensive Transport System (2016–2020)” and its Expected Outcomes (Part 1), The Direction of Chinese Monetary Policy

MIZUHO CHINA MONTHLY <Mar 2017>(PDF/950KB)

 Nov 28, 2017 RMB–denominated bond issuances by Japanese issuers, Future Directions for the Development of China’s Strategic Emerging Industries and its Hopes for Expanded Technical Collaboration with International Partners within the Timeframe of the Latest Five–Year Plan

MIZUHO CHINA MONTHLY

Mizuho Economic Commentary – China

Mizuho China Business Express Economic Journal

The South China & Asia Business Report

The South China & Asia Business Report

Up–to–the–minute information on economic and industry trends in South China and Asia.

MIZUHO CHINA MONTHLY

Mizuho Economic Commentary – China

Mizuho China Business Express Economic Journal

The South China & Asia Business Report

Mizuho Economic Commentary – China

An overview of the Chinese economy compiled by Mizuho Research＆Technologies, Ltd.

MIZUHO CHINA MONTHLY

Mizuho Economic Commentary – China

Mizuho China Business Express Economic Journal

The South China & Asia Business Report

Industry Reports

Analysis of industry from an overall perspective, focusing on changes in industrial structure, trends, business models, while making forecasts and proposals to the industry and reports that look into the latest topics of the industry.

Published Year Main Title Vol. Subtitle
2025 Mizuho Short Industry Focus 248
2024 Mizuho Industry Research 76
2024 Mizuho Short Industry Focus 235
2024 Mizuho Industry Focus 248
2024 Mizuho Short Industry Focus 229
2024 Mizuho Industry Focus 244
2024 Mizuho Industry Research 75
2023 Mizuho Industry Research 73

Medium-term Outlook for Japanese Industry
(PDF/2MB)

2023 Mizuho Short Industry Focus 219

Innovative Technology Series: The Potential of Turquoise Hydrogen
(PDF/1,145KB)

2023 Mizuho Industry Focus 242

Innovative Technology Series: The Path for the Development of CCS in Japan
(PDF/2,688KB)
2023 Mizuho Industry Focus 240

Strategies for Japanese Auto Parts Suppliers to Expand Business in Mexico
(PDF/1,502KB)
2023 Mizuho Short Industry Focus 215

Trends in High-End Photoresists –Strategic Direction for Japan to Remain Strong
(PDF/2,236KB)
2023 Mizuho Industry Focus 237

How Japan Can Win the Global Competition for Hydrogen
(PDF/1,571KB)
2022 Mizuho Industry Research 72

Medium-term Outlook for Japanese Industry
(PDF/2,021KB)
2022 Mizuho Industry Research 71

Considering Japan's Transition Strategy Toward Carbon Neutral
(PDF/1,132KB)
2022 Mizuho Industry Research 70
2021 Mizuho Industry Research 68

Medium-term Outlook for Japanese Industry
(PDF/1,686KB)
2021 Mizuho Industry Research 67

The Impact of Carbon Neutrality
(PDF/2,009KB)
2021 Mizuho Short Industry Focus 185

Key Issues for Energy Companies amid the Energy Transition: A Financial Perspective
(PDF/702KB)
2017 Mizuho Industry Focus 203

An Updated Look at Regenerative Medicine
(PDF/1,840KB)
2016 Mizuho Industry Focus 183

A Survey of U.S. Healthcare IT Industry Landscape
(PDF/1,834KB)
2015 Mizuho Industry Focus 175

U.S. Medical Device and Diagnostics Industry Updates
(PDF/1,370KB)
2014 Mizuho Industry Focus 163

Updates and Implications of Obamacare
(PDF/1,089KB)
2014 Mizuho Industry Focus 155

Restructuring the Pharmaceutical Industry
(PDF/957KB)
2014 Mizuho Industry Focus 147

Life Sciences and Biotechnology Industry Clusters in Europe – Series 2 –
– Recent Trends and Partnership Strategies for Growth and Expansion –
(PDF/787KB)
2013 Mizuho Industry Focus 141

A Survey of Current Landscape in Regenerative Medicine
–Fast Evolving Field Albeit Accompanied by High Risk–
(PDF/289KB)
2013 Mizuho Industry Focus 140

U.S. Pharmaceutical/Biotech Industry Update
(PDF/389KB)
2013 Mizuho Industry Focus 129

SE Asian E–Commerce Market: An Urban Centric Overview
(PDF/404KB)
2013 Mizuho Industry Focus 122

Life Sciences and Biotechnology Industry Clusters in Europe
–Building Bridges between Science and Industry–
(PDF/1,474KB)
2010 Mizuho Industry
Focus		 91

Introduction and Expansion of Infrastructure Sharing among Japan’s Mobile Network Operators
–Will infrastructure sharing be the key to cost cuts in a saturated market?–
(PDF/920KB)
2008 Mizuho Industry Research 28

India–based globalization in the IT services industry

*Contents may not be quoted, copied, or reproduced in any way without the permission from Mizuho Bank, Ltd. in advance.
©Mizuho Bank, Ltd. All rights reserved.

Mizuho Industry Research Vol.28

Report Information

Main Title Mizuho Industry Research
Subtitle India-based globalization in the IT services industry
Volume Vol.28
Issue No.2
Published Year 2008
Publisher Industry Research Division
Download by section Reports can be downloaded from below.

00 Front cover(PDF/94KB)

01 Contents, Overview, Chapter1, Chapter2(PDF/178KB)

02 Chapter3(PDF/850KB)

03 Chapter4, Chapter5(PDF/166KB)

Disclaimer(PDF/67KB)
Number of Pages 124
Date of Release Jul 16, 2008
Japanese version India-based globalization in the IT services industry(Japanese)

* Contents may not be quoted, copied, or reproduced in any way without the permission from Mizuho Bank, Ltd. in advance. ©Mizuho Bank, Ltd. All rights reserved.

Return to Industry Reports

Country Reports

We periodically post reports related to investment, cross–border transactions, regulations and other business topics.

What's New

Economic Reports

The following reports are provided on Mizuho Research & Technologies (MHRT) website.

Mizuho's Economic Outlook & Analysis

Mizuho Economic Outlook & Analysis provides outlooks on the Japanese economy every quarter and in–depth analyses on economic issues on a timely basis.

Monthly Economic Report

Fixed–point analysis of the Japanese economy and financial markets on a monthly basis.

MHRT's e–mail magazine

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