Hang Seng China Chief Economist on Manufacturing Slump

The transcript discusses China's economic challenges, including a downgraded GDP forecast by Morgan Stanley, the impact of COVID-19 and the Ukraine war on PMI, and concerns about unemployment. It highlights the PBOC's conservative monetary policy and the reliance on fiscal spending. The yuan's valuation is influenced by trade surplus and potential monetary easing. Despite capital outflow concerns, China's treasury bonds remain stable.

What factors are contributing to the downgrade of Morgan Stanley's growth forecast for China?

How has the ongoing Ukraine war affected raw material prices and production in China?

What is the current situation regarding unemployment in China, particularly for fresh graduates?

What challenges does the Chinese economy face in creating new jobs this year?

How does the trade surplus impact the valuation of the yuan?

What are the anticipated effects of monetary easing on the Chinese economy throughout the year?

What role does the PBOC play in stabilizing the yuan, and what are the current market conditions?