CXSE - China's premier says growth to be higher in Q2 on track to reach its annual growth target of around 5%

2023-06-27 01:41:55 ET

• At the World Economic Forum's annual meeting in Tianjin, China’s leader, Premier Li Qiang, said Tuesday that China was still on track to reach its annual growth target of around 5% and sees Q2 growth as being faster than in Q1.

• The Chinese economy advanced 4.5% Y/Y in Q1 of 2023. Last year, the economy experienced 3% growth following the end of anti-virus controls on travel and business activity.

• However, analysts are now downgrading their economic growth forecasts for China for the rest of the year.

• During his speech Tuesday, Li highlighted "security" as crucial in the context of the need to "cherish peace and stability."

• He told delegates that globalization remains intact despite some setbacks.

• The pandemic is unlikely to be the last public health crisis in the world. He added that China would implement more practical steps to boost market vitality and increase domestic demand.

• ETFs: ( FXI ), ( KWEB ), ( CQQQ ), ( MCHI ), ( ASHR ), ( YINN ), ( TDF ), ( CHIQ ), ( GXC ), ( EWH ), ( KBA ), ( YANG ), ( CXSE ), ( CAF ), ( CWEB ), ( PGJ ), ( KURE ), ( CHIX ), ( CYB ).

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