World Bank Says China Economy Rebounds on Soaring Service Spending, with Resilient Infrastructure and Manufacturing, Expects China's GDP to Grow 5.6% in 2023

The World Bank released the latest China Economic Briefing on June 14. The report pointed out that with the surge in service spending, China's economic activity rebounded in the first quarter of 2023.

Driven by a rebound in consumer demand, China's GDP is expected to grow by 5.6% in 2023.

Investment in infrastructure and manufacturing is expected to remain resilient.

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