Macro Environment in China Remains Positive

SHANGHAI, Apr 25 (SMM) – The macro environment in China remains positive. The Monetary Policy Committee of the People’s Bank of China (PBOC) held the first quarterly meeting of 2023 in Beijing. It was pointed out at the meeting that the domestic economy is showing a recovery trend, but the foundation for recovery is not yet solid. It also proposed to promote government-led private investment and accelerate the improvement of home leasing financial policy system. Yi Gang, governor of the PBOC, said that China's economy is stabilising and recovering, and the real estate market has seen positive changes. China’s GDP grew 4.5% year-on-year (YoY) in the first quarter. China’s industrial value-added rose 3.9% YoY in March, and the total retail sales of social consumer goods increased 10.6% YoY. And the National Bureau of Statistics said that the growth of Chinese economy may accelerate rapidly in the second quarter.