Plenum partners Chen Long and Guo Shan discuss China’s latest economic data, market debates about the recovery, and outlook for various asset classes.
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Full year GDP growth is likely to be closer to 6.5% than 6%, and denialists may well have to change their minds.
Beijing has outlined an ambitious plan to make SOEs more competitive in the stock market.
Macron and von de Leyen’s China visits suggest that Europe remains committed to engaging China despite various differences.
Authorities have made efforts to boost confidence in the private sector by adjusting enforcement policies and clearing misinformation.
Power demand is likely to surprise on the upside as the economy recovers; Beijing’s moves to accelerate liberalization of the electricity market mean more volatility.
China has declared its jurisdiction over TikTok and firmly opposes a forced sale, the preferred solution in the US.
Chinese policymakers may see the banking crises in the West as the result of policy errors in recent years and will avoid massive fiscal or monetary loosening.
China has shown decent growth in the first two months, but confidence remains a big issue.
Despite a conservative GDP growth target and budget deficit, we maintain that growth can reach 6% this year.