ab Global Research owered by UBS Evidence Lab YES P 25 August 2025 China Economic Perspectives Softer labour market, continued policy support - UBS Evidence Lab inside UBS Evidence Lab survey points to a slightly softer labour market The latest UBS Evidence Lab Labour Market Business Survey (>Access Dataset) of over 200 firms showed a slightly softening momentum in hiring in Q225, which differs a bit from the message of edging-down official unemployment rate. On a net basis, 41% of firms increased hiring on ...

Copper and potash have been included in the US Geological Survey’s draft list of critical minerals — a further step in clearing the way for broader policy support https://t.co/QgxC3Cpd9p ...

Australia’s top fuel supplier Ampol warned the country risks falling behind on renewable fuels, with investment in local production hinging on policy support through incentives or demand mandates https://t.co/NgTVH4AQYA ...

July credit – Continued government bond front-loading, weaker household credit demand: Government bond issuance remained strong (Rmb1.2trn, vs. Rmb0.7trn in Jul-24), accounting for the bulk of broad credit uptick. But this was partly offset by a larger-than-seasonal dip in new household loans, reflecting the transitory suspension of consumption trade-in programs and a slowing property market. Outlook: Credit growth appears set to slow from Aug. on fading fiscal impulse... Government bond financing – the key ...

Investment Rating - The report indicates an overall positive sentiment towards Hong Kong Property with specific stocks rated as Overweight (OW) such as China Resources Land, China Overseas Land, and Swire Properties [15][19]. Core Insights - There is strong interest in Hong Kong Property, particularly among onshore investors seeking stocks with yields greater than 5% and dividend certainty. Swire Properties is highlighted as the most enquired stock, followed by Henderson Land and Hang Lung Properties [1][4]. - In contrast, the sentiment towards Mainland China Property remains cautious, with investors skeptical about the effectiveness of new policy support to revive the housing market. The focus is on tactical trades, with CR Mixc, CR Land, and KE Holdings being the most sought-after names [1][7]. Summary by Sections Hong Kong Property - Investors are primarily interested in stocks yielding over 5%, with Swire Properties (~6% yield) and Henderson Land (~7% yield) being the most attractive options. SHKP is often screened out due to its lower yield [4][5]. - There is a notable shift in investor focus from Mainland China to Hong Kong, with discussions now predominantly centered on Hong Kong Property [1]. Mainland China Property - Investors express low expectations for effective policy support, believing that any new measures will not significantly impact the housing market. The focus remains on companies like CR Mixc, which is viewed as a proxy for improving consumption in China [7][9]. - There is growing interest in small and mid-cap state-owned enterprises (SOEs), with C&D and Greentown China being highlighted as attractive options [7][9].