China's Economy Set To Grow By This Percentage Rate In 2023, Says Standard Chartered

On CNBC, Abhilash Narayan of Standard Chartered said Chinese stocks are trading close to historic lows not seen since 2010.

Earnings estimates for Chinese stocks have been downbeat, so "we see upside room as far as earnings revisions are concerned," he mentioned.

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Consumer-related sectors, including consumer discretionary and communication services, are expected to benefit from the recent reopening in Chinese markets in 2023, Narayan added.

Also Read: COVID-19 Cases Soar While Stocks Fly: How To Play China's Reopening In The Market

With Chinese authorities focused on restoring the normality of the economy quickly, the country’s economy is seen rebounding at a faster-than-expected pace next year.

Narayan mentioned that although China's economy is expected to expand 4.5% in 2023, "we do see upside risk to that forecast, given the recent measures that have been announced."

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Posted In: AsiaNewsMarketsMediaTrading IdeasAbhilash NarayanCNBCStandard Chartered
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