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12th Jun 2025 18:19China+Daily Monitor

  • China’s solid retail sales figure for May was boosted by earlier online retail sales and subsidy policies.
  • Manufacturing and infrastructure investment growth are slowing; expect the policy banks to step up soon.
  • Policymakers are likely to opt for a mid-year top-up and refinement of targeted support; no big stimulus.

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independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence