Spirit of the ox alive in China's markets: Should we expect steady but hard-fought growth this Chinese New Year?

Marking the Year of the Ox

Notwithstanding ongoing controversy about the exact origins of the Covid-19 virus, it is clear that China was the first country in the world to experience a full-scale coronavirus pandemic.

China's aggressive and early containment response, together with targeted policy stimulus, meant the country was less locked down than much of the rest of the world in 2020. Because it was 'first in', it was also 'first out': economic activity in China slumped early in 2020, but subsequently rebounded strongly. The Big Question: What do the markets have in store for China in the Year of the Ox? It actually grew in 2020 overall, the only major economy to do so, while most others suffered the worst contraction since 1946 or before. This suggests to us that China's economy has less re...