Economy Watch: China View (December 2022)

The Conference Board of Asia expects the Chinese economy to bottom out in 2023, with annual GDP growth rebounding to more than 5 percent from under 3 percent in 2022. This will be driven by a recovery in consumption growth, an improvement in the housing market, as well as due to a low base effect from 2022' s growth rate. This is, however, only a modest recovery compared to the above 8 percent growth in 2021 which followed the first waves of Covid.