The Conference Board China Economy Watch (June 2020 Data) | The Conference Board
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EXECUTIVE SUMMARY

The Conference Board China Economy Watch (June 2020 Data)
  • Impact of COVID-19 Crisis on the Chinese Economy – China’s surprisingly strong Q2 rebound was driven by a rapid resumption of industrial production, strong export demand for pandemic related products, and substantial stimulus measures and corresponding construction activities. For a confluence of reasons, these drivers are likely to diminish in the 2H. This will see growth momentum in the 2H weaken from the Q2 rate.

  

  • Investment Trends – On the back of strong stimulus measures, infrastructure and real estate led the investment recovery in Q2. But this has caused a re-heating of the real estate markets in some cities. In July, a few cities – including Nanjing, Shenzhen, and Hangzhou – announced new restrictions to cool down their respective housing markets. If such measures proliferate, this will bite on investment growth in the 2H. Escalating US-China tensions portend a continued weak outlook for manufacturing investment.

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AUTHOR

YuanGao.jpg

Yuan Gao

Senior Economist
China Center for Economics and Business

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