Posted 1/14/2024, 8:26:01 AM
China on Track for 2023 Growth Target But Faces Economic Headwinds in 2024
- China likely to hit 2023 growth target of 5%, but economy faces challenges like deflation risks, housing crisis, and confidence issues in 2024
- PBOC expected to cut rates and pump liquidity to counter weak demand and deflation
- Fiscal stimulus also on the cards to boost infrastructure investment and support property sector
- Forecasts of 4.5-5% GDP growth in 2024, depending on scale of policy support
- Key China data due this week Q4 GDP, December retail sales, industrial production, exports