New energy vehicles accounted for more than 60 percent of China's new vehicle sales for the first time in July, consolidating the segment's position as the main growth engine of the country's auto industry, latest industry data showed. #NEV# #QualityGrowth#

During the 15th Five-Year Plan period (2026-30), China will accelerate efforts to build a new model for property development while balancing risk prevention with transformation, and people's livelihoods with stable growth, an official said at a news conference on Friday. The focus will shift from large-scale expansion toward upgrading housing stock, improving transaction rules and better meeting residents' changing housing needs. #QualityGrowth# #Housing#

If you could own just one stock for the next 20 years? “Amazon.” Sam Rahman @Hedgeye_HGRO explains why $AMZN fits his definition of quality growth, plus what he looks for in management teams, capital allocation and long-term compounders. Read the full interview 👇

10 AI/Tech names I’d watch for the NEXT 5 years — risk/reward matters more than hype. $NVDA — strongest Category leader, massive AI demand, and valuation has compressed meaningfully versus earlier in the cycle. If growth stays strong, the fundamentals have room to catch up. $GOOGL — core compounder AI + Search + Cloud + massive FCF. Less explosive, but one of the strongest combinations of quality, scale and valuation. $AVGO — AI networking/custom silicon + huge backlog. Customer concentration is the risk. $MRVL — custom silicon + connectivity. Excellent growth opportunity, but valuation leaves less room for disappointment. $MU — HBM/memory cycle is a major AI beneficiary. The question is how much of the cycle is already priced in. $CRDO — one of my favorite connectivity growth stories. Exceptional growth, but after the huge run, valuation and customer concentration matter. $NBIS — major AI infrastructure/NeoCloud opportunity with a massive contracted backlog. Still unprofitable, so execution is critical. $INTC — turnaround story with real catalysts, but expectations have risen dramatically with the stock. $TSLA — enormous optionality from robotaxi, Optimus and AI, but the valuation requires significant future execution. $PLTR — exceptional growth and AI adoption, but the valuation leaves very little room for a stumble. The best company ≠ the best stock at every price. Quality + Growth + Valuation + Execution. Not financial advice.

$NVDA generating $96.2B of highly profitable revenue, while also growing 106% annually is genuinely insane at their scale. People need to let that sink in. Combine that with expectations to "grow revenue by approximately 70% in fiscal 2028" under current supply constraints... Makes me think that $NVDA is perhaps the cheapest and highest quality growth stock we'll see for a long time.

Caixin: "China’s flagship state newspaper has used a prominent pseudonymous commentary series to defend the country’s slowing economic growth and signal that Beijing will resist large-scale stimulus. Responding to market attention on macroeconomic policies, the articles stated that China will not rely on heavy stimulus fueled by high debt and deficits. Instead, Beijing will maintain targeted structural policies to avoid creating a policy “dependency.”" Everyone seems to have noticed the implications of this important People's Daily article. While it should have been obvious for many years that this "large-scale stimulus" had resulted in over a decade of low-quality growth and surging debt, it was never going to be politically easy to acknowledge it, and so it is good that Beijing is finally doing so, but I guess we will soon find out whether it is even possible to resist overspending without a too-rapid decline in "growth". If it isn't (and Im pretty sure it won't be), the important question is whether Beijing would rather give up the growth targets, or continue with a few more years of unsustainable spending.