Q2 GDP growth stayed robust at 5.2% YoY (vs 5.4% in Q1). Deflation pressures intensified, with a larger decline of the GDP deflator (-1.2% YoY). Resilience in Q2 was supported by better retail sales on trade-in subsidies and solid exports, partly on front- loading of shipments. Meanwhile, the property downturn continued, while FAI growth decelerated across the board despite strong equipment purchases. Industrial production growth edged down in Q2, while service value-added growth improved. June data showed ...

ab 3 July 2025 Global Research First Read China Solar Industry Heightened efforts against involution competition Solar glass production cut According to China Economic Weekly, solar glass manufactures are starting to cut production, considering the persistently weakening demand since June. Based on our channel check, the production cut may not reach as high as 30% as some media reports estimate. We think 10-20% production cut could be reasonable. That could lead to a monthly effective production of around 4 ...