Recovery for China Will Be Moderate, Says Nomura’s Lu

The video discusses the early signs of economic recovery and the challenges that remain, such as headwinds from exports and property markets. It examines the moderate monetary stimulus and policy limitations due to limited room for easing. The People's Bank of China (PBOC) is cautious about liquidity injections, balancing optimism with concerns over stock and property prices, and unresolved debt issues. The video also explores the stimulus strategy and the slow market response due to strong headwinds and cautious policy measures.

What factors are identified as headwinds affecting the economy?

In what ways has the market responded to the stimulus measures mentioned?