China Economic Activity and Policy Tracker: July 24

Research evidence excerpt

China Economic Activity and Policy Tracker: July 24

e-in program Consumption

17-Jun Lujiazui Forum reinforced three policy directions: a more price-based monetary policy framework, reduced emphasis on aggregate credit extension, and rules-based capital opening Monetary

15-Jun MOF issued administrative measures for service industry development funds Consumption

11-Jun State council meeting on rectifying issues from 2025 audit of central budget execution and other fiscal revenues and expenditures Fiscal

10-Jun NDRC meeting on accelerated preparation of targeted policy tools for timely implementation as needed Growth

2-Jun The central government allocated 99.9 billion yuan in childcare subsidy funds to support the implementation of the childcare subsidy system Consumption/Growth

1-Jun State council issued a document setting out guidelines on corporate and individuals' overseas investments Other

28-May State council issued a notice on the Urban Renewal Plan for the 15th Five-year period Growth

22-May State council issued note on promoting the provision of basic public services at the place of permanent residence Other

21-May State council meeting on advancing the construction of a unified national market Growth

18-May State council issued the action plan for stabilizing employment, expanding job openings, and improving job qualities Employment

15-May State council meeting on the implementation of Central Urban Work Conference's directives and progress of urban renewal Growth

Source: Government websites, Goldman Sachs Global Investment Research

Thanks to Samson Yau and Ming Yang, interns on the Asia Economics team, for their

contribution to this report.

The China Economics Team

Andrew Tilton Hui Shan Lisheng Wang

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