China 2023 Outlook After Winter Comes Spring

Goldman Sachs' China 2023 Outlook predicts that China's GDP growth will improve from its 2022 low point of 3% to 4.5% in 2023. This projection is based on the assumption that China will abandon its zero-Covid policy soon after the "Two Sessions" in March. As a result, the country's reopening will lead to a strong rebound in consumption, a stronger core inflation rate, and a normalization of cyclical policies in 2023. Despite a tough 2022, the outlook for China's economy is positive, with the potential for sustained growth in the coming years.