Searcher
Le Xia
Le Xia
Chief Economist
China

Dr. Le Xia is Chief Economist for Asia at BBVA Research. He joined BBVA in 2010.


He also serves as a research fellow in International Monetary Institute at Renmin University of China. Prior to joining BBVA Research, Dr. Xia worked for the Treasury Department of Bank of China (Hong Kong). The research fields of Dr. Xia include macroeconomics in Asia economies, financial development in the Asian region and the economic integration between China and other emerging markets.


He obtained his PhD from the University of Hong Kong and has a master degree from Renmin University of China.

Latest publications

The Q2 GDP growth came at 6.2% y/y (versus 6.4% y/y in Q1), in line with market consensus. Growth slowdown in Q2 is widely expected amid the unsettled trade war with the US and the domestic structural obstacles such as debt overhang and financial risks.
Recently, the surplus of the current account also narrowed significantly. Looking ahead, a combination of “current account deficit” and “capital account two-way fluctuation” could become a “new normal” for China’s Balance of Payments (BoP).
Although the non-performing loan ratio remained stable and the capital adequacy ratio still sufficient to meet financial needs, there is a diverging trend between large and small commercial banks. Some small banks are subject to capital shortfall amid deteriorating asset quality and persistent regulations on shadow banking.