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China’s growth in 2023 largely hinges on the consumer: KraneShares

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The Bund in Shanghai, China, on Oct. 17, 2022. China’s gross domestic product grew 3% in 2022, less than half of 2021’s rate.

Qilai Shen | Bloomberg | Getty Images

China’s economy looks poised for a rebound in 2023, but a lot depends on one variable — the consumer, said investment management firm KraneShares.

“As external demand falls due to an impending recession in the West, China’s economy must rely more heavily on the consumer,” said KraneShares’ international head, Xiaolin Chen.

“We believe the reopening may lead to a V-shaped recovery in the share prices of China’s consumer brands in early 2023. The recovery could be driven by pent-up demand, high savings, and a wealth effect as…



Source cnbc.com

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