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External broker reports(aggregated public sources)

China Economics: Headwinds Remain Despite Rosy GDP Figures

Macroeconomics

<div data-component-type="container"><ul><li>In line with our base case, China’s real GDP growth accelerated in quarterly terms in the first quarter of this year, picking up to 1.6% qoq s.a. (from an upwardly revised 1.2% qoq in Q4-2023).</li><li>This was slightly above the 1.5% qoq s.a. expected by consensus including us.</li><li>The upward revisions in previous quarters (Q3 and Q4 2023) resulted in annual GDP growth coming in stronger than expected, at 5.3% yoy (Q4-23: 5.2%). </li></ul></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

In line with our base case, China’s real GDP growth accelerated in quarterly terms in the first quarter of this year, picking up to 1.6% qoq s.a. (from an upwardly revised 1.2% qoq in Q4-2023).This was slightly above the 1.5% qoq s.a. expected by consensus including us.The upward revisions in previous quarters (Q3 and Q4 2023) resulted in annual GDP growth coming in stronger than expected, at 5.3% yoy (Q4-23: 5.2%). Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China - Quarterly GDP Growth up as Expected, March Data Disappoint