May domestic factory shipments and HMG
Industry and stock outlook
Industries that are set to benefit from the economic reopening of the US and Europe will be more attractive than those that stand to benefit from China's recovery. China, both at the state and local government levels, has consumed a variety of measures including incentives for the scrapping of high-emission vehicles, new car subsidies, extension of subsidies for eco-friendly cars, and deregulation of license plates. Accordingly, demand is unlikely to recover faster than its GDP after the “two sessions.” In particular, considering the measures to