Nomura's Ting Lu on China Growth Cut

The video discusses China's economic forecast, highlighting a reduction in growth expectations for Q2 due to the zero COVID strategy. It anticipates a recovery in the second half of the year. The zero COVID strategy impacts consumption, investment, and property markets, with uncertainty in economic recovery due to government responses. Policy support measures, including tax cuts and fiscal spending, face challenges due to lockdowns. The video also analyzes currency depreciation and economic slowdown, emphasizing the need for policy adjustments.

What is the expected growth rate for the second half of the year?

• 2.5%

• 4.5%

• 3.4%

• 1.8%

What is one of the main factors causing uncertainty in China's economic recovery?

• High inflation rates

• Zero COVID strategy

• Trade wars

• Rising unemployment

What adjustment is expected from the Chinese government in response to high costs in certain regions?

• Increase in property taxes

• Reduction in export tariffs

• Adjustment to the zero COVID strategy

• Increase in interest rates

Which policy measure is NOT mentioned as part of the support measures?

• Tax cuts

• Fiscal spending

• Interest rate hikes

• Easing on property markets

What is the expected trend for the Chinese currency according to the discussion?

• Stability

• Volatility

• Depreciation

• Appreciation