China: A trot, not a gallop - so far

China’s first quarter was steady rather than strong, with growth holding up but not yet translating into a broad market re-rating.

Geopolitical shocks and higher oil prices have added pressure, yet China appears more insulated than many peers thanks to a diversified energy mix and sizable reserves.

The bigger challenge is domestic: property remains weak, consumer confidence is fragile, and markets are being driven more by short-term flows than long-term fundamentals.

Even so, the structural shift toward technology, advanced manufacturing, renewables and automation remains intact, which supports selective opportunities for patient investors.