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Morgan Stanley - 2 Goldman Sachs - 2 Lisheng Wang - 2 ” - 1 Robin Xing - 1 China’s - 1 JPM - 1 “ - 1
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☆ Wall Street banks cut China's growth forecast after dull second quarter
  + stars: | 2023-07-17 | by ( Aniruddha Ghosh | Roshan Abraham | ) www.reuters.com   time to read: +2 min
(Reuters) -J.P.Morgan, Morgan Stanley and Citigroup trimmed China’s growth forecast for 2023 after the country’s economy grew at a weaker pace in the second quarter, with its post-COVID momentum unravelling rapidly. “Market scepticism on China’s growth outlook is on the rise,” said Morgan Stanley economists led by Robin Xing. JPM cut China’s Gross Domestic Product (GDP) forecast to 5% from 5.5%. Citi, meanwhile, expects a 20 bps cut in the policy rate and 25 bps in the reserve requirement ratio (RRR) by the end of the third quarter. Goldman Sachs, however, maintained its 2023 full-year GDP growth forecast at 5.4%, even as they cut their current-quarter growth forecast to 5.5% on a quarter-on-quarter basis from 6.5% previously.
Persons: Morgan Stanley, ”, Robin Xing, China’s, JPM, “, Xiangrong Yu, ” Morgan Stanley, Goldman Sachs, Lisheng Wang Organizations: Reuters, Citigroup, Citi Locations: China, Beijing
☆ China’s real estate slump predicted to last for years, threatening to spill into the wider region
  + stars: | 2023-06-14 | by ( Jihye Lee | ) www.cnbc.com   time to read: +3 min
Future Publishing | Future Publishing | Getty ImagesWeakness in China's real estate sector could be a drag on the economy for years to come and could even impact countries in the wider region, Wall Street banks have warned. "We only assume an 'L-shaped' recovery in the property sector in coming years," they said. watch nowGoldman Sachs economists also noted there are expectations for China's government to introduce more housing stimulus packages to support the sector. If the challenges in the property sector deepen and bring risk aversion in the financial system and affect consumer confidence, this will cause a deeper slowdown in China. watch nowHui said the government's push to cap property prices at a certain level could be missing a big chunk of potential buyers.
Persons: Goldman Sachs, Lisheng Wang, Goldman, Tai Hui, Morgan Stanley, Hui, CNBC's, that's Organizations: Future Publishing, Reuters, Market Locations: CHINA, Nanning, South, Guangxi Zhuang, Wall, China, Asia
☆ China reopening earlier than expected could hit supply chains in the short term, but boost growth in 2023
  + stars: | 2022-12-29 | by ( Jihye Lee | ) www.cnbc.com   time to read: +4 min
Photographer: Qilai Shen/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty ImagesMainland China's reopening came sooner than expected for investors, and Goldman Sachs warns it will lead to short-term strains in the workforce and supply chains. Positive outlook for GDP, Chinese yuanDespite shorter-term concerns for China's reopening, economists have a rosy outlook for China's growth in the long run. "Improved growth expectations in 2023 might outweigh unfavorable factors such as deterioration in goods and services trade balances," the Goldman Sachs note said. International travel to resumeThe economists at Goldman Sachs said the latest measures will likely benefit the surrounding region's growth as travel normalizes. Travelers with luggage's inside Terminal 1 at the Hong Kong International Airport on December 20, 2022 in Hong Kong, China.
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