ASIA-PACIFIC | Industrials Equity Research RMB 1.2tn Hydropower Project = Stimulus China launched the construction of a RMB 1.2tn (USD 167bn) hydropower project on Yarlung Tsangpo River on Jul 19. This is a signal that the Chinese government is accelerating infra projects to prop up weak demand especially from property. Together with the anti-involution campaign, we see a bid for cyclical stocks in the near term. Buy Conch, CNBM and XCMG as construction plays. Commission of massive hydropower project. On Ju ...