China is on track to peak its oil consumption by 2030, fueled by its transition to new energy vehicles and upgrades in the petrochemical industry.
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China’s housing sales have rebounded in the past two weeks, led by tier-1 and tier-2 cities, thanks to policy support and less disruption from Covid.
The Chinese economy is recovering gradually from Covid lockdowns, with a stronger boost from external demand than domestic demand.
Prospects for consumption are dim while Covid-related disruption continues and consumption is pushed lower down the policy agenda.
Leading policy advisers across the ideological spectrum to call for more aggressive actions to boost consumption and housing.
Official data confirms that the Chinese economy shrank in April, as covid and related restrictions hit the country hard.
China’s corporate sector mounted a comeback in Q1 after a lousy Q4, confirms data from non-financial A-share listed firms.
All indicators have pointed to a much more substantial deterioration in April. China’s situation is unlikely to normalize in May, making it very difficult to hit the target.
Liu He remains very influential, but bearish sentiment can hardly change unless real changes materialize or the top leader speaks out.