Chinese economy to moderate in 2024: ADB

CHINA: In the midst of a recovery in household consumption, ongoing property market adjustment, and sluggish external demand, the Chinese economy is projected to expand by 4.8% in 2024, according to the most recent report from the Asian Development Bank (ADB). The expansion of the Asian economy by 5.2% in the previous year is anticipated to be followed by a moderation in growth. Trade tensions and an unreliable external macroeconomic environment may have an impact on the demand for Chinese exports. The growth rate will moderate to 4.5% in the coming year, according to the ADB.

Source: Asian Development Bank