Citigroup and JPMorgan Raise China Growth Forecasts to 5% on Improving Data and Policy Support

Citigroup and J.P.Morgan raised China growth forecasts to 5% citing stabilizing indicators and policy support.

Wall Street brokerages previously cut forecasts in August due to disappointing policy support and property crisis worries.

Citi cites tax cuts, easing property prices, retail sales improvement as reasons for outlook change.

JPM economist expects further measures like consumption support and housing market relaxation.

JPM watching for local government debt scheme and developer support policies.