China's April Economic Data Weakens; UBS Expert Cites Policy Shift After Q1 'Strong Start'
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On May 20, Song Yu, Chief China Economist at UBS Securities, stated that the weakening of China's key economic data in April was due to a policy shift towards risk control after achieving a 'strong start' in the first quarter. He noted that this pattern of strong initial support followed by a shift is a common cause of short-term cyclical fluctuations in China's economy. He anticipates further policy adjustments to meet the goals for the first year of the 5-year plan. Regarding real estate, he views the current adjustment as a result of policy; while current measures are 'like side dishes' with limited impact, their continuous accumulation will help normalize the market and reduce the drag on the economy.