Forecast of intensive upward increase of China's GDP growth rate by International Investment Banks: overseas investors' confidence in China continues to rise

(FAP)-- after the National Bureau of Statistics released first-quarter GDP data a few days ago, a number of international financial institutions, such as JPMorgan Chase, UBS, Citigroup, and other international financial institutions have concentrated on raising China's annual GDP growth forecast for 2023. In his latest view, Zhu Haibin, chief China economist and head of economic research for greater China at JPMorgan Chase, raised his forecast for China's GDP growth this year to 6.4 per cent (previously 6.0 per cent). Wang Tao, head of Asian economic research and chief China economist at UBS, raised his forecast for full-year GDP growth to 5.7 per cent. In addition, Citi raised its 2023 GDP growth forecast to 6.1 per cent from 5.7 per cent. Earlier, in mid-March, the Goldman Sachs macroeconomic research team raised its forecast for year-on-year GDP growth in China for the first quarter and full year of 2023 to 4 per cent and 6 per cent, respectively, from 2.7 per cent and 5.5 per cent, respectively. (Shanghai Stock Exchange News)