Demand for China Property This Year Will Remain Robust, Says Citigroup’s Liu

The transcript discusses China's economic outlook, focusing on GDP growth, consumer spending, and property investment. It highlights robust retail sales and car sales due to discounts, and examines the role of property investment in driving fixed asset growth. The easing of financing constraints and policy adjustments in cities are noted as factors supporting property demand. The transcript also covers bank lending trends, mortgage rates, and the impact of the equity market's performance on the property sector, emphasizing the wealth effect and potential government actions to sustain growth.

What was the surprising factor in the retail sales data for May?

• An increase in luxury goods sales

• A decrease in online shopping

• A robust nominal retail sale number

• A decline in consumer spending

What has been a significant driver of China's fixed asset investment this year?

• Agricultural development

• Technology sector

• Property investment

• Manufacturing industry

How have cities responded to property purchase limits?

• By increasing taxes

• By offering subsidies

• By relaxing or fine-tuning policies

• By imposing stricter regulations

What has been the trend in household borrowing for mortgages?

• Completely stagnant

• Fairly robust

• A slight increase

• A significant decline

What effect has supported the robust property market despite external shocks?

• Technological advancements

• Wealth effect

• Government subsidies

• Increased foreign investment