BEIJING: China’s economy is poised for steady first-quarter growth after expanding 5.2 percent in 2023, with momentum expected to strengthen further in the second half, said economist Wang Yiming.
“Favorable conditions have set the stage for a firm start this year,” said Wang, Vice-chairman of the China Centre for International Economic Exchanges in an exclusive interview with China Daily.
Infrastructure investments driven by 1 trillion yuan ($139 billion) of special treasury bonds approved in October will spur first-quarter growth, Wang added.
He foresees growth accelerating in the second half, with consumption potentially making up around 70 percent of 2023’s GDP expansion, down from 82.5 percent last year, as investment and trade strengthen.
Source: Emirates News Agency