Deep Dive | The consumption resumption: Beijing’s three-prong strategy for putting consumption at the center of growth

On Friday morning, rumors started circulating in China that Beijing intends to issue RMB 5 trillion worth of special treasury bonds (STBs) to help stimulate the economy. We think this is bupkis. From what we've read, most analysts in China… Read More »

To download this piece as a PDF, click here. Key takeaways: Large infrastructure stimulus has had less of a feedthrough to economic activity than Beijing had hoped. The primary problem is weak real estate activity. The April collapse in house… Read More »

The fate of the global climate depends on China’s successful decarbonization. And transportation emissions are a critical piece of this puzzle. Transportation is China’s third-highest carbon-emitting sector, behind only power generation and heavy industry. Transport decarbonization efforts are also the… Read More »