chinarelated exchangetraded funds continued to surge on tuesday after beijing pledged to ramp up stronger stimulus measures to bolster the country’s stumbling economic recovery lifting bullish sentiment as foreign investors were injecting more money into chinese equities despite low growth in the first half of 2023 the invesco golden dragon china etf pgj  which tracks the american depositary shares of companies based in china rose 1 while the kraneshares csi china internet etf kweb  which offers exposure to chinese software and information technology stocks traded 06 higher the ishares msci china etf mchi and the spdr sp china etf gxc each surged 18 according to factset data the chinese communist party’s politburo one of the country’s top decisionmaking bodies met on monday in a closely watched event to line out the overall economic assessment and the policy outlook for the rest of 2023 policymakers struck a confident tone in the recovery of the world’s secondlargest economy while outlining plans to address some of the hardesthit areas including the debtridden property market and the shattered private sector see nio helps lead strong china stock rally amid upbeat economic commentary while alibaba shares get a lift officials said beijing will adjust property policies promptly as supplydemand dynamics have changed hinting at easing measures to rescue the property sector which accounts for onethird of the country’s economy by some estimates market participants said the politburo’s language on the property sector was softer as the statement dropped the standard reference to the president xi jinping’s signature slogan “houses are for living not for speculation” for the first time in a midyear review of the economy since 2019 the phrase was first introduced by in 2016 as a sign of the government’s desire to cool the realestate sector “in our view the meeting readout slightly beat the low market expectation since it signaled an overall plan to resolve the local government debt issue indicated easing in the property market and pledged to invigorate the capital market” wrote a team of economists at bofa global research led by helen qiao china and asia economist see wall street’s crystal ball is broken why financial markets’ big bet on china’s economic boom is going all wrong however while policymakers have acknowledged the weak domestic demand as a primary concern they insisted that the current downturn is a “temporary trough” and stopped short of announcing an aggressive stimulus package or hinting at any timeline for a potential one economists at bofa said in a tuesday note “this confirms our assessment that policy makers are aware of the downward pressure but do not perceive aggressive stimulus as urgently needed therefore more meaningful measures will likely materialize with a delay” the hang seng china enterprises index 160462  which tracks major chinese companies listed in hong kong gained 53 on tuesday to log its best daily performance since november 2022 when the country first relaxed its covid19 restrictions on the mainland the benchmark csi 300 index 000300 climbed 29 its best day since november 29 2022 according to factset data the yuan cnhusd rallied as much as 07 to trade at 713 per dollar on tuesday with reuters reporting that china’s major stateowned banks were seen selling us dollars to buy yuan in both onshore and offshore spot markets in early asian trade on tuesday global funds were marching back into chinese equities on tuesday with foreign investors purchasing a net 189 billion yuan 27 billion of onshore stocks via the trading link between hong kong and the mainland it was the biggest daily inflow since december 2021 according to data compiled by marketwatch opinion china is feeling the pinch from a weakening global economy and us restrictions