China's Industry Poised for 2024 Rebound on Export and Stimulus Hopes
• China's industrial profits set to rebound 11% in 2024 due to improved US export outlook and Beijing's policies
• Recovery driven by US stock replenishment starting mid-2024 which would benefit China's exports
• Industrial output grew 6.8% in Dec, fastest since 2021, indicating recovery momentum
• Beijing to continue stimulus via $140B bond issuance, property market support, to boost demand
• China likely to target 5% GDP growth in 2024, requiring heavy spending and 11% social financing growth