China’s GDP recovery likely picked up in Q1 FMTNews FMTBusiness
Beijing has pledged to step up support for the economy as it emerges from one of its worst performances in nearly half a century.
Beijing has pledged to step up support for the economy as it emerges from one of its worst performances in nearly half a century last year due to Covid curbs. On a quarterly basis, GDP is forecast to have grown 2.2% in the first quarter, having stalled in the previous quarter. “This is an important signal that the first quarter GDP report due on Tuesday will not be too soft. But we do not expect it to be particularly strong either,” Iris Pang, chief Greater China economist at ING, said in a note.
The central bank cut lenders’ reserve requirements for the first time this year in March and the government has unveiled more fiscal stimulus.
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