China: An Equity Strategist’s Diary (H/A): Weekly wrap (20-24 Jul): Momentum, hesitation, and composure

Research evidence excerpt

China: An Equity Strategist’s Diary (H/A): Weekly wrap (20-24 Jul): Momentum, hesitation, and composure

ontrol and Prevention MCU Microcontroller unit SAFE State Administration of Foreign Exchange

CEWC Central Economic Work Conference MEE Ministry of Ecology and Environment SAMR State Administration for Market Regulation

CFLP China Federation of Logistics and Purchasing MIIT Ministry of Industry and Information Technology SASAC State-owned Assets Supervision and Administration

CGB China Government Bond MOA Ministry of Agriculture and Rural Affairs SDN list Specially Designated Nationals Lis

CIPS Cross-Border Interbank Payment System MOC China Ministry of Commerce SME Small and Medium-sized Enterprises

CNY Chinese New Year MOE Ministry of Education SoC System on chip

CPCA China Passenger Car Association MOF Ministry of Finance SOE State-owned enterprises

CPPCC Chinese People's Political Consultative Conference MOHURD Ministry of Housing and Urban-Rural Development SPAC Special Purpose Acquisition Company

CSPV Crystalline silicon photovoltaic MOT Ministry of Transport SSE Shanghai Stock Exchange

CSRC China Securities Regulatory Commission NAV Net asset value SSF Social Security Fund

DICJ Macau Gaming Inspection and Coordination Bureau NBS National Bureau of Statistics of China USTR United States Trade Representative

DIP Diagnosis-Intervention Packet NDRC National Development and Reform Commission VAT Value Added Tax

DMA Direct Market Access NEV New Energy Vehicles VIE Variable Interest Entity

DRG Diagnosis-Related Groups NFRA National Financial Regulatory Administration WMP Wealth Management Product

FAI Fixed asset investment NHSA National Healthcare Security Administration YRD Yangtze River Delta

Source: government websites, BofA Global Research

BofA GLOBAL RESEARCH