MACRO

New Opportunities Emerging in China-Spain and China-EU Relations, Says Spanish Prime Minister

China’s SME Development Index Hits Highest since 2022 in Q1 – Industry Association

Large Number of Ships and Cargo Planes Suspend Services on China-US Routes, Chinese Exporters Halt Most Shipments

Spanish Prime Minister Pedro Sánchez Visits China, Defends Trade Ties with Beijing

China’s Consumer Prices Drop at Slower Pace in Mar, Factory-Gate Price Decline Widens

Chinese Premier Li Qiang Calls for More Proactive Macro Policies, New Incremental Measures to Address External Uncertainties

China’s Domestic Excavator Sales Surge Nearly 40% in Q1, Average Operating Hours of Construction Machinery Rise Over 6% in Mar

China’s Manufacturing Revenue Grows 4.8% YoY in Q1, Shows Tax Data

Timing of RRR, Rate Cuts Hinges on Multiple Dynamic Factors, RRR Cut Likely in Q2, Analysts Say

China’s Retail Sector Expands for 2nd Straight Month, Consumer Vitality Increases Steadily, Says Industry Association

US Reciprocal Tariffs May Drag Down China’s GDP Growth by 0.76 – 1.5 ppt, Macro Policies Can Offset Impact, Says BOC International

US Tariffs to Slow China’s GDP Growth by 1.5 ppts; PBOC May Cut Rates & RRR in Apr-May, Says UBS

Goldman Sachs Expects China to Accelerate Fiscal Easing Measures to Counter Tariff Impacts

China’s Foreign Exchange Reserves Rise for 3rd Consecutive Month in Mar, Gold Reserves Increase for 5th Straight Month

China’s Inter-Regional Travels Hit New High in Qingming Holiday, Domestic Tourists’ Average Spending Rises 5%