The CSI 300 index is lower on Friday, but it has confirmed a break higher is in progress, in similar fashion to the one seen in the fourth quarter of 2020. While this phase of strength is likely to be more circumspect, it does appear to have the endorsement of credible sources. This week has seen progress for U.S.-China business ties and a dovish talk from the PBOC Governor. That has provided fuel for Chinese bonds and positive feedback loop into equities.