chinese stimulus, page-40

$1t pa urbanisation/infrastructure spend for 6yrs is massive, really
the 2009 stimulus was $650b pa for 2 yrs

yes it's is PPP [not assured/direct funding like govt spend] but it shows immense scale of plans underway

yes, we will revisit structural problems again
yes, imbalances are not "solved"
yes, plenty problems still

but when the pain gets to great plans are hatched

to us George Magnus' line [here].. certainly appears they are blinking

bloomberg still reporting a "valuation bounce back" lead by property, financials and PetroChina [here]... yet to attribute a bigger cause

will have to see if this [above] gets traction

my gamble... it does. at least it should.

and this, plus the lift in equity issue restrictions for property developers turns the tide