Cum Clave analysis N.18 preview.
China is ahead not only of the reopening and slackening due to the pandemic, but it is ahead of the new supply procedures on the market, preparing a new offensive or to use a softer term a new technology that will implement the different industrial furniture. Some regions restart local economies. Beijing will remove 14-day quarantine requirements for people arriving south of the country.
Beijing’s easing came days before a five-day Labor Day vacation starting May 1, potentially an advantage for the travel, catering, and hospitality sectors in other parts of China.
The largest listed banks in China posted higher profits in the first quarter despite the pandemic although margins declined. Industrial and Commercial Bank of China Ltd posted a 3.04% increase in first quarter net profit compared to a year earlier. Growth has come despite the Chinese economy having recorded its first quarterly contraction since at least 1992. Chinese banks are heavily financing industrial and manufacturing activities, domestic consumption is gradually increasing and are ready to start moving abroad as well.
• Attention: this is a restart operation focused on identifying companies for future acquisitions and transforming the entire supply chain.
China’s first default in government bonds….
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