Insight
China economic focus March 2023: time for changes
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The new government in China needs to issue new policies to accelerate economic recovery. However, the lower-than-expected 5% GDP target signals that the government may face challenges. China needs to boost consumption by lowering saving rates and increasing real wages. But the government’s recent steps to support private businesses and stabilise housing prices are already providing consumers with a sense of security. China is currently redirecting trade and investment to Asian economies. This is a result of rising political tensions between China and the US and the restructure of the global supply chain.
Table of contents
- Highlights
- Four changes in the Chinese economy in 2023
- Consumption stimulus and strategies are half complete
- Industry policies are needed to bring confidence back
- Redirecting trade and investment
- Appendix
Tables and charts
This report includes the following images and tables:
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Economic targets from the government work reportGross saving ratesShare of private investment
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Changes in China’s top export partnersOutbound direct investmentWood Mackenzie’s proprietary China dataManufacturing PMIIndustrial production and retail salesTradeInflationPropertyInvestment
- 2 more item(s)...
What's included
This report contains:
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