Nation showing more signs of recovery

Regarding the ongoing debate about whether we are in economic recovery or whether deflation runs the risk of derailing a comeback, we clearly state that the current situation is the beginning of an economic recovery, not a deflationary cycle. There are five takeaways regarding the economic situation this year — China will once again lead the world in terms of economic recovery; the real estate market is witnessing some green shoots of resurgence; the stock market is expected to witness a structural bull market; the country will maintain an accommodative monetary policy; the US Federal Reserve will likely pause rate hikes and will start cutting interest rates going forward.

We believe that China's economy is at the starting point of a new round of recovery.

China's GDP grew by 4.5 percent year-on-year in the first quarter, exceeding market expectations and kicking off the year on a positive note.