Bank of China – Market Outlook & Investment Strategy, Nov 2024

The Bank of China's November 2024 report, "2024 Market Outlook & Investment Strategy," provides a comprehensive analysis of global and Chinese economic trends, financial markets, and strategic investment insights for the upcoming year. The report highlights a weakening momentum in global economic growth during the third quarter of 2024, with total demand cooling due to slowing residential consumption and declining government spending. It notes that global inflationary pressure has eased, and international trade has maintained a recovery trend. The Bank anticipates mounting downside risks in the global economy for the fourth quarter, with potential synchronous declines in total demand and supply. For China, the report observes sustained economic recovery with a GDP growth of approximately 4.8% in Q3 2024, driven by strong foreign demand and manufacturing investment. However, challenges such as inadequate domestic demand and a declining real estate sector persist. The Bank emphasizes the importance of policy intensity and effectiveness in improving domestic demand to support economic recovery.