China: GDP could expand more than expected this year – UOB

“China’s economy rebounded by a stronger-than-expected pace in 1Q23 following the lifting of its Covid-19 restrictions. The key beneficiary of China’s reopening was the services sector while manufacturing sector was weighed by softer external demand even as the reopening improved the logistics and activities in the supply chains.”was mixed with industrial production and fixed asset investment below expectations while retail sales surged and the labour market solidified its gains.

“The recovery in China’s economy meant that there is less need for the People’s Bank of China to further ease monetary policy despite the muted inflation. However, another RRR reduction later this year cannot be ruled out should credit expansion shows signs of a sharper slowdown.”Information on these pages contains forward-looking statements that involve risks and uncertainties.

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