Economy Continues to Pick Up at the Beginning of 2023

A number of high-frequency monitoring data show that the social activity and logistics have rebounded rapidly. Coupled with improving real estate and car consumption, the operating rates of enterprises are improving. The economy is expected to improve further in 2023. Cheng Qiang, chief macroeconomic analyst at CITIC Securities, said that high-frequency data show that industrial production and real estate sales are still improving, and the economy still maintains a positive momentum. At the same time, frequent reform policies in the financial sector, the release and implementation of the comprehensive registration system rules and regulations, and the solicitation of opinions on the new capital management measures of commercial banks all show that the reform continues to advance. Positive signals will continue to be released in terms of future economic recovery and reform policy advancement.