A waiter serves a dish for diners in a shopping mall in Chaoyang District of Beijing, capital of China, June 6, 2022. (Xinhua/ Ju Huanzong)
BEIJING, Dec. 23 (Xinhua) -- Many foreign financial institutions have raised their latest forecasts for China's gross domestic product (GDP) growth in 2023 as the world's second-largest economy vows stronger support for economic growth with one of the focuses on spurring domestic demand, reported the Xinhua-run Shanghai Securities News on Friday.
For example, earlier this month, Goldman Sachs upgraded its 2023 growth forecast for China to 5.2 percent from 4.5 percent, saying it expected consumption to become the main driver for the country's economic growth and experience strong rebound in the second half of 2023.
UBS Group also raised its projection for China's GDP in 2023, from 4.5 percent growth to 4.9 percent. Wang Tao, head of China Economic Research at UBS Group, said China's economic activity is expected to gradually recover from the beginning of 2023.
Nomura Group said with signals of economic recovery emerging one after another, China's GDP is likely to grow 4.8 percent in 2023.
Morgan Stanley also raised its forecast for China's GDP growth in 2023 to 5.4 percent from its previous outlook of 5 percent, predicting a rebound in economic activities would come in the second half of 2023. (Edited by Su Dan with Xinhua Silk Road, sudan@xinhua.org)
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