Population growth in Guangdong and Zhejiang point to localized consumption tailwinds

China is hardwiring supply chain security into its mineral resource governance framework. The finalized implementation regulations for the Mineral Resources Law, published May 20, indicate authorities will embed monitoring and risk management across entire resource-related supply chains. The regs repeatedly… Read More »

Cost-push inflation from the Iran war may be having an unintended upside for China's industrial base. Earlier this month, Caixin reported that China's excavator manufacturers are raising prices for the first time in years. Sany Heavy Industry, XCMG, and Liugong… Read More »

China’s fiscal spending contracted in April. Per finance ministry (MoF) data released on May 20, total fiscal expenditure fell 7.3% y/y in April, widening from a 2.5% decline in March. Some context: Total fiscal spending is the sum of expenditure under… Read More »