[Outlook-in-Five] China's policy pivot

In this podcast episode, our Chief Investment Strategist, Eli Lee, discusses the recent unveiling of four key policies during last Saturday's briefing at China's Ministry of Finance.  The policies focus on supporting local government, state banks, the property sector, and specific demographic segments. While these steps are important, failing to meet unrealistic investor expectations of a large fiscal headline figure could lead to near-term volatility.  Minister of Finance Lan Fo’an provided important forward guidance in terms of increased central government debt issuance and deficit spending. This is unusual and signals Beijing’s mandate to forcefully turn around the property market and the economy. Tune in to our latest episode for more insights into the policy announcement.