Momentum of China’s Economy Continuing With Softer Trend, Says JPMorgan’s Ng

The transcript discusses the economic trends and volatility observed this year, influenced by seasonality and trade tariffs. It highlights the fundamental drivers of the economy, including domestic slowdown and policy support. The discussion also covers survey data and market expectations, with a focus on PMI numbers and economic momentum. The transcript concludes with growth projections and the anticipated policy support to stabilize the economy.

What was the main reason for the volatility in economic data at the beginning of the year?

• Increase in consumer spending

• Global economic slowdown

• Seasonality around the Lunar New Year

• Unexpected policy changes

Which factor contributed to the domestic economy slowing last year?

• Rise in consumer confidence

• Increase in foreign investments

• Domestic deleveraging

• Expansion of the tech sector

What is expected to help stabilize the economy from the second quarter onwards?

• Reduction in interest rates

• Rise in global demand

• Increase in exports

• Gradual rollout of policy support

Which component of the PMI data showed an increase compared to April?

• Employment

• New orders

• Inventories

• Output

What is the revised full-year growth expectation mentioned in the transcript?

• 6.5%

• 6.2%

• 6.4%

• 6.3%