📈 Goldman Sachs Gives a Boost to China's Growth Forecasts!
Goldman Sachs just shook things up on Sunday, raising China's economic growth forecasts for 2024 and 2025. The investment bank is feeling optimistic thanks to the Chinese mainland's recent pro-growth measures. 🚀
So, what's the new outlook? China's gross domestic product (GDP) is now expected to expand by 4.9% in 2024, up from the earlier forecast of 4.7%. But that's not all! For 2025, Goldman Sachs predicts the Chinese economy will grow by 4.7%, jumping from the previous estimate of 4.3%. 🎉
According to Goldman Sachs economists, \"The latest round of China stimulus clearly indicates that policymakers have made a turn on cyclical policy management and increased their focus on the economy.\" It seems like the Chinese mainland is gearing up for some serious economic momentum! 💪
Just to put things into perspective, China posted a GDP growth of 5.2% in 2023 and has set a target of around 5% for 2024. With these new forecasts, it looks like the Chinese mainland is on track to keep the good vibes going. 🌟
Reference(s):
cgtn.com
