Asia Week Ahead: China’s Two Sessions And South Korean Inflation Data

By Lynn Song and Min Joo Kang of Think.ING

Economic and Financial Analysis • Feb 27, 2026 at 11:00 AM EST

China's Two Sessions meetings, when growth targets will be announced, begin on 4 March.

China's Two Sessions meetings, when growth targets will be announced, begin on 4 March. Key data releases include China's manufacturing purchasing managers' index and South Korean inflation and exports.

China: All eyes on the Two Sessions

The long-awaited Two Sessions kicks off in Beijing on 4 March. We’ll get China's key economic targets for 2026, most notably for GDP growth. We believe there's a chance the growth target will be lowered to "above 4.5%" from "around 5.0%" over the past few years. China will also unveil fiscal targets, including for the deficit-to-GDP ratio and bond issuance. Markets will watch closely for any new stimulus directions outlined in the readout. The finalised 15th Five-Year Plan will be approved at the meeting, setting the stage for the next five years of China's development.

We’ll get China's February manufacturing purchasing managers' index. We expect the official manufacturing PMI to moderate to 49.1.

South Korea: Exports expected to grow amid strong semiconductor demand

South Korea’s exports should continue to record strong gains in February. Despite unfavourable calendar effects due to the timing of the Lunar New Year holiday, exports are expected to rise 25% year-on-year in February. Data on 20-day exports showed that semiconductors jumped 134%. As DRAM/HBM prices continue to rise, value term exports will increase substantially for an extended period. Meanwhile, auto exports are likely to decline, with Lunar New Year expected to have a more negative impact. Industrial production and retail sales in January are expected to show mild gains, driven by robust global chip demand and the local equity rally. Meanwhile, consumer inflation is expected to rise to 2.2% year-on-year in February. Gasoline prices rose, and additional price hikes are expected amid holiday demand.

Key events in Asia next week

Disclaimer:

This publication has been prepared by the Economic and Financial Analysis Division of ING Bank N.V. (“ING”) solely for information purposes without regard to any particular user's investment objectives, financial situation, or means. ING forms part of ING Group (being for this purpose ING Group NV and its subsidiary and affiliated companies). The information in the publication is not an investment recommendation and it is not investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. Reasonable care has been taken to ensure that this publication is not untrue or misleading when published, but ING does not represent that it is accurate or complete. ING does not accept any liability for any direct, indirect or consequential loss arising from any use of this publication. Unless otherwise stated, any views, forecasts, or estimates are solely those of the author(s), as of the date of the publication and are subject to change without notice. The distribution of this publication may be restricted by law or regulation in different jurisdictions and persons into whose possession this publication comes should inform themselves about, and observe, such restrictions. Copyright and database rights protection exists in this report and it may not be reproduced, distributed or published by any person for any purpose without the prior express consent of ING. All rights are reserved. ING Bank N.V. is authorised by the Dutch Central Bank and supervised by the European Central Bank (ECB), the Dutch Central Bank (DNB) and the Dutch Authority for the Financial Markets (AFM). ING Bank N.V. is incorporated in the Netherlands (Trade Register no. 33031431 Amsterdam). In the United Kingdom this information is approved and/or communicated by ING Bank N.V., London Branch. ING Bank N.V., London Branch is deemed authorised by the Prudential Regulation Authority and is subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. The nature and extent of consumer protections may differ from those for firms based in the UK. Details of the Temporary Permissions Regime, which allows EEA-based firms to operate in the UK for a limited period while seeking full authorisation, are available on the Financial Conduct Authority’s website.. ING Bank N.V., London branch is registered in England (Registration number BR000341) at 8-10 Moorgate, London EC2 6DA. For US Investors: Any person wishing to discuss this report or effect transactions in any security discussed herein should contact ING Financial Markets LLC, which is a member of the NYSE, FINRA and SIPC and part of ING, and which has accepted responsibility for the distribution of this report in the United States under applicable requirements.

Comments

Back to all articles