For more discussion, we are joined again by Professor Tao Ran from the School of Economics at Renmin University of China.

1. The PMI numbers are stronger across the board -- services, manufacturing, output and export orders. Is this thanks to stimulus kicking in?

2. How does the data bode for GDP growth in the first quarter?

3. How concerned are you about Moodys' and S&P cutting China's outlook?

4 (Backup) What will we see in policy settings to keep this recovery momentum for the rest of the year?