# A business cycle with Chinese characteristics

An episode of [Under the Banyan Tree by HSBC Global Research](https://invisiblenetwork.ai/podcast/1702829388), 14 Aug 2025, 14 min.

Audio: https://sphinx.acast.com/p/open/s/64db93c01796c400110e0ce3/e/689d74c82d44a86fa03eae29/media.mp3

Herald has returned from his summer holiday to a new buzzword in Chinese economics: “anti-involution”. Fortunately, Chief China Economist Jing Liu is on hand to explain what it means. For more content from HSBC Global Investment Research, follow us on LinkedIn: #HSBCResearch. And don't forget to follow our global podcast "The Macro Brief" on Apple Podcasts or Spotify or wherever you get your podcasts. Email us at AskResearch@hsbc.com for any questions. Disclosures and Disclaimers: https://www.research.hsbc.com/R/101/dGRXDLn Hosted on Acast. See acast.com/privacy for more information.

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