ROADSHOWS: US Value Equity Ideas - Jonathan Boyar /Boyar Research - London   12 - 15 May 25       US Chemicals Equity Research and Stock Picks - Frank Mitsch /Fermium Research - London   14 - 15 May 25       US TMT Policy - Robert Kaminski /Capital Alpha Partners - London   19 - 21 May 25       L/S US Retail and Consumer Staples Ideas - Brian McGough & Daniel Bilosi /Hedgeye - London   19 - 23 May 25       US Healthcare Policy - Kim Monk & Rob Smith /Capital Alpha Partners - London   20 - 22 May 25      

IRF Lunch - China Stimulus and Strategic Reflation Opportunities for Q4 and Beyond

PRC Macro

Dukes Hotel - 35 St James's Pl, London SW1A 1NY

Thu 24 Oct 2024 - 12:30 BST

Topics

The unambiguous message from this Politburo meeting is that 'growth first' has returned as the Party’s top priority.

Early meeting shows urgency to restore market confidence, opening near-term prospects.

Expect significant bank recapitalisation and new Central Government Bonds (CGB) for economic stabilisation.

The Politburo is committed to reversing the decline in property prices and boosting sales.

Supply controls may lead to credit defaults but offer long-term gains as the market stabilises.

China reflation will be one of the most important global macro trades for 2025.

Despite buoyed sentiment on growth and reflation in Q4 and early next year, PRC see potential weakening to renewable investment and China's steel exports could become the largest downside risks base metal demand in 2025.