This report highlights a mid-year tactical adjustment in China's GDP outlook, citing a softer Q2 offset by a more optimistic Q3 fueled by expected fiscal spending. It also covers stable holiday tourism and Premier Li's recent defense of Chinese industrial innovation.
Key Takeaways
- 1.Q2 GDP forecast revised down to 3.5% from 4.0% due to weak activity; Q3 revised up to 5.0% due to expected acceleration in fiscal spending.
- 2.Dragon Boat Festival tourism data showed steady, moderate growth consistent with recent holidays.
- 3.Premier Li Qiang emphasized innovation-driven competitiveness at Summer Davos, framing Chinese industry as 'China opportunities 2.0'.
Table of Contents
- Three quick highlights from China
- Local government special bond issuance appears to be accelerating
- Steady spending during the Dragon Boat Festival
- Tourism revenue per head was similar to last year’s Dragon Boat Festival
- Premier Li’s Summer Davos speech
- Recent GS China macro research
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Authors
Hui Shan
Themes
Fiscal Policy StimulusGlobal Trade Relations
Regions
Asia PacificChina