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Advisers Could Recommend Growth Target of 4.5 - 5.5% Next Year

CHINA
  • Reuters report that Chinese government advisers will recommend a 2023 economic growth target of 4.5 - 5.5% at the working conference next month.

Latest views among sell-side generally see growth below that mark:

  • Goldman Sachs expect GDP growth to be soft in Q4 (3.5% q/q ann) and think the reopening boost to growth may not materialize until H2 next year.
  • Meanwhile, TD Securities see growth at 3.1% this year, and should zero covid rules be removed in Q1, growth could move back to around 6-6.5% rather than the 4.7% they currently assume for 2023.

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