JP Morgan raises its Chinese GDP growth forecast for 2023 to 5.0% from 4.8% previously

China has certainly contributed a lot to the problem, as it not only reduced the RRR for the second time this year, but also made further rate cuts and increased its support for the real estate sector. But is it really enough? Only time will tell, but personally, I maintain my reservations.

Besides JPM, ANZ also raised its GDP growth forecast for China for 2023 to 5.1%, from 4.9% previously, but Goldman Sachs says it is sticking to its GDP growth forecast in third quarter of 4.9% year-on-year.