Goldman Sachs has revised its forecast for China’s gross domestic product (GDP) growth in 2024, raising it from 4.7% to 4.9%. This adjustment follows the government’s latest round of economic stimulus measures aimed at boosting growth.
In a research note released on Sunday, Goldman Sachs noted that the recent policy actions reflect a shift in the government’s focus toward managing cyclical economic challenges and enhancing overall economic performance. The bank highlighted that this new approach indicates policymakers are increasing their efforts to support the economy as it faces ongoing challenges.
The updated forecast signals cautious optimism regarding China’s economic recovery, driven by the government’s enhanced focus on boosting growth through strategic policy measures.
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