China's Economic Growth to Moderate, Morgan Stanley's Xing Says

The transcript discusses China's economic situation, focusing on the PMI numbers indicating weakness due to domestic deleveraging and trade tensions. It highlights the impact of these tensions on growth, particularly in export orders and inventory buildup. The discussion covers expectations for GDP growth, with a moderate decline anticipated due to resilient domestic consumption and infrastructure recovery. The People's Bank of China (PBOC) has implemented defensive monetary measures to limit credit growth risks. The transcript concludes with efforts to stabilize economic growth through credit and infrastructure investments.

What factors are contributing to the weakness in the PMI number?

How do trade tensions affect growth according to the July PMI data?

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

What measures has the PBOC adopted recently to address economic challenges?

What are the implications of the local government bond issuance on infrastructure CapEx growth?