China scaled back government spending at its fastest pace in six months in April, a move that contributed to an unexpected slowdown in the economy across the board.

UBS Group AG real estate analyst John Lam, a market veteran who spotted problems at China Evergrande Group before his peers, has joined a chorus of observers declaring that China’s yearslong property downturn is finally losing steam.

China’s cross-border inflow resumed in April following a reversal in March, reinforcing confidence in the economy and an appreciating yuan.

China’s market regulator set out 34 priorities for 2026 to support private sector growth, focusing on fair competition, stronger legal protections and efficient regulation.

Chinese President Xi Jinping and Russian President Vladimir Putin exchanged congratulatory messages marking the opening of the China-Russia Expo in the northeasten city of Harbin, highlighting deepening economic ties between the two countries.

Chinese stocks halted their rally and the yuan held steady as the high profile summit between Xi Jinping and Donald Trump delivered a predictable script. The absence of substantiative breakthroughs in trade or diplomacy suggests investors are likely to stick with the status quo.

Copper extended its retreat from a record-high close as accelerating US inflation reduced the chance of rate cuts and a stronger dollar make the metal more expensive for many buyers.

A recent surge in Chinese chip stocks has made them some of the most expensive among global peers, and investors are growing increasingly cautious.