23 November 2022 | Other

China's central bank adviser predicts GDP growth above 5% in 2023

China's economy is likely to grow above 5% next year, according to an advisеr to the People's Bank of China. But this is only possible if the Covid issue is resolved and the government pursues a more effective policy that stimulates confidence and consumption growth. 

Assumed gross domestic product growth is the latest forecast by Wang Yimin, a prominent Chinese economist and member of the monetary policy committee of the People's Bank of China. He was speaking by video link at a conference organized Wednesday by the Hong Kong Institute for Monetary and Financial Research. Right now, the government is trying to stimulate a recovery in economic activity after a slowdown this year. 

Wang said the Bank of China may have more room to adjust monetary policy in the first half of next year. That's assuming the Federal Reserve slows the pace of aggressive interest rate hikes. 

Economists surveyed by Bloomberg forecast Chinese GDP growth of 3.3 percent this year — one of the lowest levels in decades — and then growth to just under 5 percent next year.

Company MarketCheese
Period: 07.08.2026 Expectation: 650 pips
AUDCAD is poised to approach channel’s upper boundary after testing support
Yesterday at 11:05 AM 37
Period: 31.08.2026 Expectation: 1150 pips
Go long on USDCAD with 1.41250 in sight
Yesterday at 09:42 AM 21
Period: 30.09.2026 Expectation: 2700 pips
Buying GBPUSD up to 1.3600
Yesterday at 09:08 AM 17
Period: 14.08.2026 Expectation: 400 pips
Invest in Brent crude with $88.50 target
Yesterday at 08:38 AM 25
Period: 07.08.2026 Expectation: 770 pips
GBPUSD sharp rally gives way to correction
Yesterday at 06:00 AM 14
Period: 06.08.2026 Expectation: 800 pips
Selling S&P 500 Index with 7,250 target amid rising bearish pressure
30 July 2026 44
Go to forecasts