China’s economy is set to expand 5.3 per cent this year as the property sector stabilises and external demand improves.- China’s economy is set to expand 5.3 per cent in 2024 as the property sector stabilises and external demand improves, according to the Asean+3 Macroeconomic Research Office , helping to lift growth in the region.
“China will continue to be a powerhouse in the region and the main driver of growth,” Amro chief economist Hoe Ee Khor said by phone. Domestic demand is likely to remain resilient, underpinned by recovering investment and firm consumer spending. Export recovery, especially in semiconductors, and tourism should provide an additional lift to growth, the group said.
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