Wang-Sullivan meeting; Stocks go up; Clean energy and GDP; ASML
I know I said there would be no newsletter today but I skipped the conference because I am still sick, so here you go. We did record an episode of Sharp China today, so look for it Friday. We talked a lot about Tesla and PRC EVs, and the moves this week to stabilize the stock market and improve confidence.
Summary of today’s top items:
SOEs star as stock market rises - The markets were up Thursday, as policymakers wanted. Some central SOEs did especially well, with 27 listed in Shanghai surging limit up 10%.
NFRA talks real estate support - These comments from the NFRA seem more along the ones of "we do not want real estate risks to worsen further" rather than “stimulus!”.
Clean energy’s contribution to 2023 GDP growth - A new report from Carbon Brief says that “clean energy contributed a record 11.4tn yuan ($1.6tn) to China’s economy in 2023” and that “without the growth from clean-energy sectors, China’s GDP would have missed the government’s growth target of “around 5%”, rising by onl…