China’s Economy in H1 2023 demonstrated strength and resilience, showcasing a 2.1% YoY growth in foreign trade and an impressive 3.7% YoY increase in exports. The ASEAN bloc retained its position as China’s primary trading partner, underlying the strategic importance of this regional bloc in China’s foreign trade landscape. Remarkably, the nation witnessed a 21.6% YoY surge in automobile exports, primarily driven by the booming new energy vehicles (NEVs) market. Meanwhile, the country experienced mild inflation, with the Consumer Price Index (CPI) remaining flat in June 2023. The Producer Price Index (PPI), however, saw a notable decline of 5.4% YoY in June, the sharpest drop in over seven years. Despite this, China emerged as the world’s leader in IPO activity, and Shanghai saw a significant boost in consumer confidence, pointing towards an optimistic economic future.