Primary Vision Network on YouTube

August 28th, 2020


The key points from the video transcript are as follows:

- The composite PMI in China is showing expansion, with manufacturing PMI at 52.6 and non-manufacturing PMI at 56.3.
- Manufacturing is not as strong as non-manufacturing due to the impact of lockdowns, but it is still expanding.
- The Chinese government is warning companies and local governments to dial back lending to avoid overheating the economy.
- The PBOC is concerned about balancing liquidity and inflation pressures.
- The GDP growth rate in China was at 3% in 2021, the second lowest recorded since 1976.
- Consumption per capita shrunk by 0.2% year-on-year, and industrial profits fell by 4%.
- The data from January and February needs to be put into context, as there may be some excess follow-through from the Lunar New Year and the impact of COVID-19.
- The Chinese government is tightening its grip on the financial system, which may create headwinds for foreign direct investment.
- Consumption saw some acceleration in January, but the property market and exports are still likely to be a drag on the economy.

#ChinaEconomy #ManufacturingPMI #NonManufacturingPMI #PBOC #GDPGrowth #Consumption #PropertyMarket #Exports #FinancialSystem

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