SHANGHAI, Apr 24 (SMM) – The Bank of China Research Institute released the Economic and Financial Outlook Report for the Second Quarter of 2023 on April 3.
According to the report, in the first quarter of 2023, as the impact of the Covid-19 pandemic subsided, and the economic stabilisation policies were deployed, China’s economy continued to recover. China’s GDP was expected to grow by about 4.1% in the first quarter.
In the second quarter, China's economy will fully enter the post-pandemic recovery period. Consumption is expected to continue its rapid recovery momentum. Investment in infrastructure and manufacturing will grow rapidly.
Real estate investment will gradually stabilise, and the decline in exports may continue to narrow.
China’s GDP will grow by about 7.6% in the second quarter. The report also said that macroeconomic policies should improve stability, focus on promoting the formation of a benign interaction between economic improvement, endogenous driving force enhancement, and expected improvement. Close attention shall be paid to and study and judge should be undertaken on external risks and their spillover effects.
