Morgan Stanley's Xing on China Economy

What is the expected growth rate for the economy next year?

• 3%

• 7%

• 5%

• 10%

What is considered the biggest policy lever for stimulating the economy?

• Infrastructure investment

• Interest rate reduction

• Tax cuts

• Reopening

How many jobs is reopening expected to create?

• 5 million

• 8 million

• 11 million

• 15 million

What is the expected impact of the policy shift on the local government mentality?

• Emphasis on housing market control

• Increase in tax rates

• Focus on COVID restrictions

• Shift towards pro-growth and pro-FDI

How is the Chinese yuan expected to perform in comparison to the US dollar next year?

• Stronger due to economic recovery

• Dependent on US inflation rates

• Weaker due to continued lockdowns

• Unchanged due to stable policies