ASHR - China Growth - Can 'Little Giants' Save The Day?

• China is trying to reignite its growth engines - but can authorities do it with small and privately owned companies lagging behind?
• Going by January’s domestic activity gauges, China’s large corporates did relatively well - the respective PMI rose for the second month in a row to 51.6. However, the small companies PMI fell to the new post-COVID low of 46.0, and the Caixin manufacturing PMI (which has a larger share of private firms) was weaker than expected and back in contraction zone.
• The latest initiative in China's SME space - called “Little Giants” - has attracted attention. Authorities hope that promoting specialized, or niche, manufacturing SMEs would help to support growth and move the economy up the value-added chain.

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