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Economists Index Strong In March - Yicai

CHINA PRESS

The Yicai Chief Economists Confidence Index read 51.65 in March, the third consecutive month above the 50-point expansionary mark. Economists on a recent panel forecasted 5.47% 2023 GDP growth, with 3.99% for Q1. The expected average CNY/USD exchange rate for 2023 strengthened from CNY6.65 to CNY6.69. The recent banking risks in developed economies resulted from overly loose monetary policy following Covid-19 and China should establish a financial governance system with Chinese characteristics, according to all participants. One expert said high-frequency indicators showed the recovery accelerated in March, but the job market remains weak and over one-third of industrial enterprises are not profitable. (Source: Yicai)

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

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