China's Economic Recovery Efforts, Strategic Policy Shifts, and Military Developments

Key Intelligence

• ■China's economy rebounded with 4.5% growth, putting its annual target within reach, while the home price slump eased, fueling hopes for property market recovery.
• ■State funds actively intervened in Chinese stock markets amid a record weekly losing run, and the central bank signaled a shift to the overnight rate as its primary policy benchmark.
• ■China implemented new export curbs on drones and industrial machinery, indicating a strategic focus on controlling key technologies.
• ■The country revealed an advanced nuclear submarine was used to test-fire a missile, underscoring its growing military capabilities.
• ■New Zealand's trade deficit with China widened, largely driven by increasing imports of Chinese electric vehicles, highlighting China's competitive export strength.