Nomura's Lu says China's Growth Target Too High

The video discusses China's fiscal stimulus, highlighting the government's conservative approach and the impact of declining local government revenue from land sales. It explains the fiscal deficit, surplus funds, and the importance of off-budget spending. The challenges faced by the property market, including companies like Evergrande, are examined, along with the government's cautious measures to control the market and shift resources to the tech sector. The video also touches on the growth of exports and the overall economic landscape.

What fiscal stimulus measures has the Chinese government promised for this year?

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How has the decline in local government revenue from land sales affected China's fiscal spending?

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What is the planned fiscal deficit within the budget for this year compared to last year?

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What challenges does the Chinese government face regarding the property sector and local authorities?

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How does the performance of the export sector compare to the property market in terms of economic growth?

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