Posted 11/28/2023, 1:17:47 AM
Chinese Corporate Profits Forecast to Rise 16% in 2024 on Economic Rebound
- Chinese companies forecast to see best profit growth in 7 years in 2024 at 16%
- Growth expected to be driven by government measures to support consumers and housing market
- Consumer staples and software sectors predicted to see earnings growth around 30-40% in 2024
- Encouraging signs like higher GDP, imports, retail sales point to economic rebound next year
- Risks remain like potential delays in real estate market recovery and ongoing US-China tensions