Bankinter: The Development and Reform Commission has announced a new fiscal stimulus package of CNY 200 billion (approx. $28 billion) to ensure that growth reaches the 5% target. The measures will be structured in two tranches. In the first, CNY 100bn ultra-long bonds will be issued to develop as yet unspecified projects, and in the second, the same amount will be earmarked for a series of strategic investments, of which…

Bankinter: First data on Golden Week spending: international daily travel is estimated to have increased +19% year-on-year, surpassing pre-covid levels. On the first day of this holiday week, foreign travel increased 40%, according to Trip.com (up 30% to Europe) and rail travel reached record highs. According to Alipay, tourists who have travelled abroad have spent 120% more than last year. Other indicators, however, such as travel to Hong Kong showed…