Visitors at a government event to encourage consumption in Beijing on June 6. China’s priority on restarting production in industrial and manufacturing firms has left consumption a laggard in the recovery process. Photo: AP Visitors at a government event to encourage consumption in Beijing on June 6. China’s priority on restarting production in industrial and manufacturing firms has left consumption a laggard in the recovery process. Photo: AP
Visitors at a government event to encourage consumption in Beijing on June 6. China’s priority on restarting production in industrial and manufacturing firms has left consumption a laggard in the recovery process. Photo: AP
Aidan Yao
Opinion

Opinion

Macroscope by Aidan Yao

Why China is not gunning for a roaring economic recovery

  • China’s GDP rebound belies an uneven recovery and a widening gap between the real economy and capital markets. Instead of more stimulus, Beijing will want to rebalance the economy and carefully unwind policy easing
  • GDP growth should hit 5-6 per cent for the second half, and 2.3 per cent for the whole year

Aidan Yao
Aidan Yao

Updated: 10:22pm, 29 Jul, 2020

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Visitors at a government event to encourage consumption in Beijing on June 6. China’s priority on restarting production in industrial and manufacturing firms has left consumption a laggard in the recovery process. Photo: AP Visitors at a government event to encourage consumption in Beijing on June 6. China’s priority on restarting production in industrial and manufacturing firms has left consumption a laggard in the recovery process. Photo: AP
Visitors at a government event to encourage consumption in Beijing on June 6. China’s priority on restarting production in industrial and manufacturing firms has left consumption a laggard in the recovery process. Photo: AP
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Aidan Yao

Aidan Yao

Aidan Yao is senior emerging Asia economist at AXA Investment Managers. Prior to joining AXA IM, he was a senior financial market analyst at the Hong Kong Monetary Authority for two years. He started his career at the Reserve Bank of New Zealand in 2007, serving as an economist and later senior financial market analyst until late 2011. He holds a master degree in finance (2006) and a bachelor degree in economics and finance (2005) from the University of Otago (NZ). He is also a chartered financial analyst.