All of this happened in China this week. A thread. 1/10

https://twitter.com/Quicktake/status/1669622623125241857

Stimulus mode. The central bank cuts interest rates, shifting gears to boost growth as economic data continues to disappoint. Authorities are also considering a broad stimulus package to support the housing market and get consumers spending. 2/10
bloomberg.com/news/articles/…

All of this happened in China this week. A thread🧵1/10

https://twitter.com/Quicktake/status/1667092574505680897

Recovery stalls. Exports sink a worse-than-expected 7.5% in May and factory prices fall for an eighth month. More stimulus is in the works to support the property market and help banks, though Beijing appears reluctant to roll out bigger measures. 2/10
bloomberg.com/news/articles/…

All of this happened in China this week. My third-to-last thread🧵1/10

https://twitter.com/Quicktake/status/1664503162391371776

Bear market. Chinese stocks are in a prolonged downturn, declining more than 20% since a peak. Worse-than-expected economic data, a mixed earnings season and tensions with the US have all made investors pessimistic. Friday's rebound saw low volumes. 2/10
bloomberg.com/news/articles/…

So it's now June, my final month living and working in this beautiful city. I first moved to Hong Kong in early 2017 for what was meant to be 3 months. Then a few wonderful people helped make the move permanent and the rest is history.

A bit of a different thread today... 1/6 I am very proud to have been a part of Bloomberg's HK bureau, an incredibly welcoming, collaborative, hardworking and resilient group of people. To everyone in print, TV, radio, QuickTake, social, security (Jimmy and Michael!) hair & make up (Maria and Marco!) - thank you. 2/6

All of this happened in China this week. A thread🧵1/10

https://twitter.com/quicktake/status/1659481544379990016

Burry buys. Michael Burry, the investor played by Christian Bale in The Big Short, is betting big on JD.com and Alibaba. The stocks are now the largest holdings of his Scion Asset Management, accounting for 20% of the stock portfolio. 2/10
bloomberg.com/news/articles/…

All of this happened in China this week. A thread🧵1/10

https://twitter.com/Quicktake/status/1656943566340386817

Italy out. PM Giorgia Meloni has signaled she intends to pull her country out of China’s Belt and Road Initiative. Italy is the only G-7 country to have entered the investment pact and is under US pressure to ditch it. 2/10
bloomberg.com/news/articles/…

All of this happened in China this week. A thread🧵1/10

https://twitter.com/Quicktake/status/1654405868383813633

Two speeds. Travel surges over the Labor Day holidays, with people making far more trips across China than even before the pandemic. Spending was only 0.7% higher than 2019 levels though, showing residents are still tightening their belts. 2/10
bloomberg.com/news/articles/…

All of this happened in China this week. A thread🧵 1/10

https://twitter.com/Quicktake/status/1651881273617534976

Insufficient demand. China’s economic recovery needs continued fiscal and monetary support, the Politburo says after its latest meeting. Top leaders acknowledge growth has been better than expected but that the economy is still in recovery mode. 2/10
bloomberg.com/news/articles/…

All of this happened in China this week. A thread🧵 1/10

https://twitter.com/Quicktake/status/1649335748598935552

Consumption rebound. Economic growth is beating estimates as residents spend far more on dining out, jewelry, medicine and clothing. Government officials warn this year’s rebound is “not yet solid” and say they’ll consider measures to boost spending. 2/10
bloomberg.com/news/articles/…

All of this happened in China this week. A thread. 1/10 Room for stimulus. Consumer inflation slowed even further in March to just 0.7%, indicating domestic demand remains weak. Uncertainty over future employment and income mean Chinese households are cautious, saving at a faster pace in the first quarter. 2/10
bloomberg.com/news/articles/…

All of this happened in China this week. A thread 🧵1/10 “Invest in China Year.” Xi Jinping's government is loosening the screws on the private sector and courting foreign executives. The goal is to strengthen China's technological might, attract inflows and drive economic growth. 2/10
bloomberg.com/news/articles/…

https://twitter.com/Quicktake/status/1641753297143881729

All of this happened in China this week. A thread🧵 1/10

https://twitter.com/Quicktake/status/1639185576837648384

AT1 boom. In the past 18 months, nowhere has seen more issuance of the now-controversial bank debt than China. State-backed lenders sold $42 billion entirely onshore, reducing their exposure to US dollar funding. 2/10
bloomberg.com/news/articles/…

All of this happened in China this week. A thread. 1/10
bloomberg.com/news/articles/…

https://twitter.com/Quicktake/status/1636656338842312704

A diplomacy blitz. After years of isolation, Xi Jinping is reaching out to world leaders. He lands a big win by hosting Iran and Saudi Arabia as they restore ties. Xi also plans to visit Putin in Moscow and hold his first-ever call with Zelenskiy. 2/10
bloomberg.com/news/articles/…

All of this happened in China this week. A thread. 1/10

https://twitter.com/Quicktake/status/1634122066164080640

Only 5%. China’s 2023 growth target falls short of expectations. Beijing can no longer rely on exports to prop up the economy, so it needs to find ways to boost consumer spending and business investment instead. At least inflation remains subdued. 2/10
bloomberg.com/news/articles/…

All of this happened in China this week. A thread - with highlights in a video by @Simoninthesand for @Quicktake if you're pressed for time. 1/10

https://twitter.com/Quicktake/status/1631567864191766528

Eco boom. China’s post-Covid economic recovery has surprised even the government in Beijing. February data showed factory output recovered at the fastest rate in a decade. Home sales rose for the first time in 20 months. 2/10
bloomberg.com/news/articles/…

All of this happened in China this week. A thread - with highlights in a video by @Simoninthesand for @Quicktake if you're pressed for time. 1/10

https://twitter.com/Quicktake/status/1629087736106782721

Big Four no more. China’s paranoia over data security means US accountants could soon be unwelcome. State-owned companies are being urged to hire local alternatives to PwC, E&Y, Deloitte and KPMG. 2/10
bloomberg.com/news/articles/…

All of this happened in China this week. A thread. 1/10 Clashes with the US. China sanctions two American defense companies, saying they were involved in the sale of weapons to Taiwan. Biden says he intends to speak with Xi. Beijing questions the US’s “sincerity” in saying it wants to stabilize relations. 2/10
bloomberg.com/news/articles/…

All of this happened in China this week. A thread. 1/10 Post-Covid reboot. Money-market rates surge as China’s reopening spurs loan demand. Inflation also quickens, with prices up 2.1% in January from a year earlier. The question is whether people will deploy excess savings built up during the pandemic. 2/10
bloomberg.com/news/articles/…

All of this happened in China this week. A thread. 1/10 Tourism reignited. China’s residents made more than 300 million trips during the Lunar New Year holiday, spent 25% more on restaurants and 83% more in Macau’s casinos than a year ago - well ahead of estimates. Economists boost GDP forecasts for 2023. 2/10
bloomberg.com/news/articles/…

All of this happened in China this week. A thread. 1/10 Not so bad. December data for retail sales and industrial output was far better than forecast, showing the resiliency of China's economy even as Covid spread across the country. Liu He tells Davos growth will rebound to its normal trend this year. 2/10
bloomberg.com/news/articles/…

All of this happened in China this week. A thread. 1/10 Crackdown ending. An influential voice at China’s central bank says the regulatory squeeze on tech companies is 'basically complete.' Wall Street doubles down on Chinese internet stocks, recommending buys across the board. 2/10
caixinglobal.com/2023-01-09/chi…