Three Things in China

This report highlights a likely on-track Trump-Xi meeting in mid-May, robust April trade data driven by the global AI boom, and steady recovery in domestic holiday spending.

Key Takeaways

• 1.Preparations for the Trump-Xi meeting scheduled for May 14-15 appear to be on track, with potential focus on trade, export controls, and Middle East stability.
• 2.April trade data exceeded expectations, significantly driven by a global AI capital expenditure boom benefiting semiconductor and computer sectors.
• 3.China's Labor Day holiday data indicates a steady, gradual recovery in consumer spending and domestic tourism after the 2023 exit from Covid controls.

Table of Contents

• Three quick highlights from China
• Chinese nominal exports to major trading partners increased sequentially in April
• Labor Day holiday travel data show steady improvements after 2023
• Recent GS China macro research
• Forecast revision and thematic research
• Data comments and trackers
• Team presentation materials and webinar replays
• The China Economics Team
• Disclosure Appendix
• Reg AC
• Disclosures
• Global product; distributing entities
• General disclosures

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