5 September 2025 | 6:45PM HKT China Economic Activity and Policy Tracker: September 5 (Song) In this note, we update four sets of high-frequency indicators that we track: 1) consumption and mobility; 2) production and investment; 3) other macro activity; and 4) markets and policy. We publish our tracker on a bi-weekly basis. 1) Consumption and mobility Exhibit 1: 30-city daily property transaction volume in the primary market was slightly above last year's level Source: Wind, Goldman Sachs Global Investment ...