China’s GDP growth to be close to 6% this year, fixed-asset investment growth to exceed 6% – CICC
MACRO VIEWS & ANALYSIS
China’s GDP growth to be close to 6% this year, fixed-asset investment growth to exceed 6% – CICC
MACRO VIEWS & ANALYSIS

China’s GDP growth to be close to 6% this year, fixed-asset investment growth to exceed 6% – CICC

 

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China’s 2023 GDP growth is likely to be close to 6%, with relatively moderate inflation, eased Covid impacts, recovering demand and retail sales, and improving domestic consumption momentum, according to CICC.

The Chinese economy is in accelerated transformation, with the proportion of real estate is falling, while that of new economy sectors rising, including green economy and digital economy, it said.

The nominal growth of fixed asset investment will exceed 6% this year, with manufacturing investment growing at a stable rate and infrastructure investment maintaining a medium to high year-on-year growth, and the growth in real estate development investment will likely turn positive for the year, improving significantly from 2022, it said.

He also predicted that CPI and PPI inflation would be relatively moderate for the year, with a low YoY growth rate in the second quarter and a gradual recovery from the second quarter onwards.