Goldman Sachs' Shan on China's Economic Recovery

The transcript discusses economic data, highlighting the impact of temporary factors on production and the surprising resilience of industrial production. It examines market concerns, policy responses, and the role of the PBOC in addressing growth risks. The analysis covers export trends, consumption levels, and China's transition from manufacturing to services. The impact of vaccination on economic reopening and the zero COVID policy is also explored, along with the balance between financial risks and growth concerns.

What does the text suggest about the current state of exports in nominal and real terms?

How does the text describe the relationship between manufacturing and income in driving consumption?

What are the concerns regarding financial risks and market stability in relation to growth?