Entrepreneurs... balance... relationships with local officials... national policy directives, and... regulations... - Keyu Jin

Confidence has to come from somewhere... There are underlying factors that alter confidence and consumption, and... we've seen the scarring effects of the pandemic. Don't forget that Chinese households did not get the support that European and American households got during the pandemic... [M]ore importantly, could be declining, and we don't really know for sure, but it's not climbing, so without that you can't possibly get consumption to be really... enthusiastic. Of course, there's real estate and the stock market. ...Retail investors account for the majority of turnover for Chinese A shares and... that has also been performing problematically. And... youth unemployment is a challenge, but is it coming from a cyclical feature which is a demand deficit, in which case policies could potentially work, but... As we'll hear from Mr. Zhu, there are also constraints... There's a on s... the key implementers of economic drivers of growth, but now they are suffering from mountainous debt burdens. So these are some of the... short-term challenges.

China’s political centralization is paired with economic decentralization. ...The "mayors" are... equity stakeholders of their jurisdiction. ...[M]arriage of local Officials and ...entrepreneurs is how China reformed, industrialized, urbanized, and ...innovates.

[I]t's leaky. You cannot really restrict technology flows... [Y]ou're basically enriching the intermediaries. ...There are a lot of third [party] countries where we're seeing a huge surge in imports of chips. I wonder what happened there.