[Overseas Institutions Have Recently Raised Their Forecasts for China's Economic Growth Rate and Stock Returns]

Cailian Press, September 21, 2023 - Since September, a number of overseas institutions, including Goldman Sachs, J.P. Morgan, ANZ Bank, and Lombard Consulting Services, Inc., raised their forecasts for China's economic growth rate and stock returns. On September 17, 2023, Goldman Sachs' latest macro research report indicated that the improved economic data in August demonstrates that China's economy has steadily recovered. Goldman Sachs predicts that under the influence of three driving factors: the inventory cycle, policy support, and the steady recovery of exports, China's economic growth rate will gradually rise from 3.2% in the second quarter to 5% in the fourth quarter of 2023, with an expected annual growth of 5.4%. On September 18, both J.P. Morgan and ANZ Bank raised their forecasts for China's GDP growth by 0.2 percentage points to 5% and 5.1% respectively. On the same day, the chief economist of Lombard Consulting Services, Inc. stated that, based on the increasing risk return on Chinese stocks, they have upgraded the rating of Chinese stocks. (Cailian Press reporter Yan Jun)