The call yielded no notable progress on Section 301 tariffs or US access to the audit reports of Chinese companies.
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China’s economy has been gradually recovering since May, after lockdowns were lifted in major cities. The real estate sector, however, remains deeply problematic.
Uncertainty around the global food supply have drawn Beijing’s attention to the challenges of feeding China’s 1.4bn population.
Bankers and SOE managers, initially sent to provincial governments to prevent financial risks and SOE defaults, are now tasked with driving local growth.
GDP breakdown shows very weak domestic demand, continuing to undermine so-called rebalancing, and the worst property slump on record.
China loosened several Covid restrictions last month, including cutting the inbound quarantine period to “7+3”, to boost the economy.
China’s strong current account surplus and the recent reversal in equity flow have helped the RMB outperform other currencies.
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.
Xi reaffirmed Beijing’s commitment to “one country, two systems” in his recent visit to Hong Kong, while national security remains a top priority.
Liu Jianchao and Liu Jieyi are likely to become China’s top two diplomats in the next administration.