BOC Research Institute, the research unit of Bank of China, predicted that the Chinese economy will grow about 5.7 percent year-on-year in the fourth quarter to achieve yearly growth of around 5.2 percent this year, above the official annual growth target of 5 percent.

The services consumption potential will continue to be unleashed, infrastructure investment is expected to accelerate, and high-tech and private manufacturing investment will also grow to enhance manufacturing investment, the 2023Q4 Economic and Financial Outlook released by the institute on Sunday said.

That means the endogenous growth momentum of the Chinese economy will gain more steam, it added.

The report predicted that consumption would grow 10 percent and 7.8 percent on a yearly basis respectively in the fourth quarter and in 2023.

source: chinadaily.com.cn

DISCLAIMER: THIS ARTICLE IS FROM THE INTERNET AND DOES NOT REPRESENT THE OPINIONS OF 鹏盛资本PENGSCPA. 鹏盛资本PENGSCPA DO NOT GUARANTEE THE ACCURACY OR COMPLETENESS OF THE ARTICLE, WHICH IS FOR YOUR REFERENCE ONLY. IF ANYONE SUFFERS DIRECT, INDIRECT OR RELATED LOSSES DUE TO THE USE OF THE MATERIALS IN THIS ARTICLE, 鹏盛资本PENGSCPA WILL NOT BE LIABLE FOR SUCH LOSSES.