There could be some temporary easing of political obstacles on the US side and economic issues may finally get moving again.
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China’s covid cases hit two-year-high and Beijing has doubled down on zero-covid policy with strict measures enforced in all affected cities.
Authorities are allowing localities more room to relax real estate, carbon, and energy policies while sounding less hawkish on anti-trust and capital.
Beijing faces tough choices between various diplomatic goals, with risks of collateral damage and loss of reputation for not opposing Putin.
The unverified list is not a sanction tool and companies can get delisted; the Unverified List and the Entity List are mutually exclusive.
The latest surge of covid cases in Hong Kong will not change China’s zero-covid policy for the special administrative region, let alone the mainland.
The next and perhaps final window for the PBOC to cut policy rate is 15 March as the Federal Reserve is starting a rate hike cycle next month.
Chinese provinces lowered GDP growth targets by 0.7pp on average, and we expect the central government to set the national growth target at “around 5.5%”.