China's Economy Shows Signs of Strength Amid Real Estate Woes and Transition to Greener Industries

China's economy is bifurcated into weak real estate/construction and still-strong manufacturing, travel, and emerging "green" sectors
Industries like electric vehicles, batteries, and solar panels are seeing significant growth due to government support
Travel and hospitality sectors benefited from pent-up demand after years of pandemic lockdowns
However, declining retail sales and consumer confidence indicate challenges for the broader economy
China is undergoing a difficult economic transition from reliance on real estate to higher-value, greener industries