China’s Economic Outlook for 2023

Key Takeaways

• As China faces rising COVID-19 cases, a shrinking property sector, weak consumer demand, and declining exports, it faces a difficult path forward to revitalize growth.
• Growth expectations for the new year range from four to above five percent, with the expectation of surging consumer demand after the first quarter.
• China’s Central Economic Work Conference and central and provincial two sessions will offer further clarity on how China plans to boost growth in the new year.