In the past month, foreign banks have collectively raised their economic expectations for China, with Morgan Stanley's Xing Ziqiang stating "the first quarter exceeds expectations."

Recently, foreign institutions have raised their expectations for China's economic growth. Morgan Stanley's chief economist Xie Ziqiang's team pointed out that the economic performance in the first quarter exceeded expectations, and the full-year economic growth forecast has been raised by 0.5 percentage points. Institutions such as HSBC, ANZ, and Citibank have also upgraded their GDP forecasts, believing that the government's determination to support growth has strengthened. Morgan Stanley expects the actual GDP growth rate in the first quarter to reach 5.4% year-on-year, with significant increases in investment in emerging industries and a recovery in the real estate market. The report also raised its forecast for the RMB exchange rate, expecting the central bank to maintain a moderately loose liquidity environment