BNP Paribas expects China’s economy to grow 5.1% in 2023
MACRO VIEWS & ANALYSIS
BNP Paribas expects China’s economy to grow 5.1% in 2023
MACRO VIEWS & ANALYSIS

BNP Paribas expects China’s economy to grow 5.1% in 2023

 

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BNP Paribas said that the Chinese economy is expected to grow by 5.1% in 2023, and by 4.5% in 2024.

The moderate stimulus policy introduced after the Politburo meeting in July will provide short-term boost for the economic growth in the four quarter, it said.

Given the rising oil and hog prices, China’s CPI will likely bottom out in the third quarter, while its core CPI will remain subdued, it said.

The economic growth prospect in 2024 and afterwards will depend on policies for addressing cyclical and structure problems, including cultivating new growth engines to replace the real estate sector, it said.