Investing in high-end manufacturing for economic growth

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First quarter GDP in China exceeded expectations, driven by growth in exports and investment in manufacturing. The focus on manufacturing is seen as a strategy to counter the slowdown in the property sector. State bank credits are now being directed towards manufacturing instead of property, aligning with the government's emphasis on high-quality development and investment in high-end manufacturing products for the green transition like electric vehicles, solar panels, wind energy, and batteries.

Tesla shareholders are bracing for the carmaker’s worst earnings performance in seven years, oil markets have remained steady as Middle East tensions rise, and China’s first-quarter GDP shows the effects of President Xi Jinping’s bet on manufacturing.

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Tesla shareholders braced for worst results in 7 years

Why oil prices remain steady even as Middle East tensions escalate

Covid vaccine makers to clash in London over mRNA patent dispute

China warns west of ‘survival of the fittest’ as manufacturing boosts economy

Parisians struggle to cash in on Olympic Games rentals

The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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