China's economic recovery will continue to stablize with pro-growth reforms in the fina...

CHINA'S ECONOMIC RECOVERY WILL CONTINUE TO STABLIZE WITH PRO-GROWTH REFORMS IN THE FINANCIAL SECTOR AND PRIVATE SECTOR BEING MOST LIKELY, SAYS GRACE NG OF JPMORGAN. SHOWS: HONG KONG, CHINA (AUGUST 13, 2014) (REUTERS - ACCESS ALL) GRACE NG, SENIOR CHINA ECONOMIST, JPMORGAN CHASE & CO. 1. (QUESTION GRAPHIC) "We had a series of upbeat data from China - how is the outlook for China's economy shaping up for the 3rd quarter?" 2. GRACE NG SAYING: "So going into the second half, what we are looking for is basically a continuation of the stable recovery in the economy with, on the external side, the global recovery supporting China's exports sector as we already saw in the July export number. And then on the domestic side, hopefully we will have a continuation of the domestic demand recovery going into the second half. However the picture on the domestic demand side so far has been less clear than the external recovery, in the sense that if you again look at the July trade report, the import side was actually somewhat softer than expected. And then if you look at some of the industry numbers such as the machinery data, the steel output for July, they also came in on the softer side. So in that perspective, I think we should still very much closely follow the domestic demand indicator as for how sustainable is the recovery going ahead. And then from that perspective we see still some uncertainty on the real estate sector and also the continuing problem of overcapacity." 3. (QUESTION GRAPHIC) "Do you expect China to enact more stimulus in the second half?" 4. GRACE NG SAYING: "Yeah indeed you have seen a series of pro-growth measures in the past three months or so. And I think what we are going to see in the second half is basically a continuation of that approach basically. A targeted approach to support selective sectors such as infrastructure, affordable housing, the energy protection sector, the new energy sector and so on. So with those measures continuing to be carried out in the second half, that would quite likely support some steady recovery in the economy. And on the macro policy side, the way we see it is that you will have b...