In mid-July, the 20th Central Committee of the Communist Party of China held its third plenary session (or Third Plenum) – a key policy meeting in each five year political cycle. Any hopes that China’s government may seek reforms to support the demand side of the economy were disappointed, with the announced proposals doubling down on supply side policies that risk further trade tensions with the United States and European Union.

For further details, please see the China Economic Update (7 August 2024)