M Stanley Raises China Econ Growth Forecast to 4.8% This Year, Sees RMB at 6.75 vs USD by Year-end
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M Stanley has raised its China economic growth forecast for 2023 to 4.8% and for 2024 to 4.7%, citing strong exports and investments in AI and green capital. The bank has withdrawn its predictions for fiscal stimulus and monetary easing due to robust export performance. It also adjusted the GDP deflator forecast to 0.5%. M Stanley anticipates a modest appreciation of the RMB against the USD, adjusting its year-end target to 6.75, with potential fluctuations based on economic performance and USD strength.
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