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Citi raises its forecast for China’s GDP growth

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Real estate and related sectors account for at least 25% of China’s economy, according to Moody’s.

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BEIJING — China’s economy faces so much new pressure from Covid that Beijing may increase stimulus — boosting overall growth, Citi said Thursday.

“Given the strong start of the year and the anticipated government support, we revise up our growth forecast from 4.7% to 5.0% for 2022,” Xiangrong Yu, chief China economist at Citi, said in a report late Thursday.

The new forecast is closer to the official gross domestic product target of around 5.5%, which was announced in early March. For January and February, China reported better-than-expected…



Source cnbc.com

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