China says it plans to boost these industries. Stocks to play the trend


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China may not have announced bazooka-like stimulus at its annual parliamentary meeting this past week, but it made clear which sectors it will support. Beijing announced a GDP growth target of around 5% and an official fiscal deficit of 3%, matching last year's goals. Authorities announced plans for "ultra-long" bonds for special projects, while hinting they could still deploy other stimulus tools . "While the level of fiscal stimulus may be unimpressive and the underlying property risks remain, we believe the strategic focus on nurturing new productive forces, developing the digital economy, promoting domestic consumption, and continuing opening-up should be...