Citi China: China’s GDP forecast for this year is raised from 4.6% to 5%, and real estate is showing signs of stabilization

The Associated Press learned from Citi China that Citi China has raised its GDP forecast for China this year from the original 4.6% to 5%. The reasons for the upward revision include: first, the export industry chain and industrial production have picked up significantly. In March, the manufacturing PMI reached a new high in six months, and the small and medium-sized enterprise PMI returned to the expansion range for the first time in a year, making the largest contribution to the improvement of the overall data; secondly, the real estate decline showed initial signs of stabilizing. Since March, both the sales data of listed developers and the sales of second-hand houses in monitored key cities have rebounded from lows, and the year-on-year decline has tended to converge; thirdly, the implementation of a new round of stabilizing growth policies has accelerated. From the perspective of supporting policies, although it is not a flood, it is a "medium-scale stimulus plan" that is basically compatible with the GDP target. Moreover, policy implementation and coordination have also improved since this year.