China's Search for a New Economic Engine

As China welcomes in the new year today, markets are hopeful that the government’s strategy of ‘short term pain for long term gain’ is enough to push the Chinese economy to a new stage of development. In traditional Chinese culture, the Year of the Snake embodies qualities of introspection, transformation and adaptability. That year seems fitting for 2025, as after three years of decline, the Chinese equity market delivered a positive return in 2024 and outperformed the majority of other emerging markets. It hopes to achieve even…