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China Can Grow 5.5% In 2023 - Institute

CHINA PRESS

China is on track to achieve 5.5% GDP growth this year given low base effects, according to an Institute of Finance, Academy of Social Sciences report. The institute said the economy could have grown up to 7% in Q2 y/y, but the q/q level may be lower. Authorities need to tackle persistent weak demand by increasing counter-cyclical adjustments and expanding fiscal monetary policy to boost market expectations and confidence, the report said. The central bank should cut policy interest rates by a large margin in H2 to combat rising real interest rates which harm the private sector recovery. (Source: 21st Century Herald)

MNI Beijing Bureau | lewis.porylo@marketnews.com
Energy BulletsCommodities
MNI Beijing Bureau | lewis.porylo@marketnews.com
Energy BulletsCommodities

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