Growth Not Top Priority for China This Year: Goldman’s Shan

The transcript discusses the impact of energy constraints and virus outbreaks on China's Q3 GDP, highlighting production cuts and liquidity injections by the PBOC. It explores China's policy tightening and structural reforms, indicating a shift in priorities away from growth. The Evergrande crisis is examined in the context of a broader housing market policy shift. The transcript concludes with a discussion on China's monetary policy stance, emphasizing the need to manage asset bubbles and maintain flexibility.

What factors contributed to the downgrade in Q3 GDP according to the text?

How does the recent injection of liquidity from the PBOC relate to the cooling of the economy?

What does the text suggest about China's willingness to sacrifice growth for structural reforms?

In what way has the approach to housing policy changed according to the text?

What implications does the hawkish stance of policymakers have for future monetary policy?