China Central Bank Adviser Sees GDP Growth Above 5% in 2023
- Policy board member says ‘limited room’ to cut interest rates
- A more proactive target is needed to boost expectations: Wang
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China’s economy will likely grow more than 5% next year should Covid disruptions end and the government roll out more policies to boost confidence and consumption, according to an adviser to the People’s Bank of China.
The gross domestic product growth estimate from Wang Yiming, a member of the PBOC’s monetary policy committee, is the latest forecast from a prominent Chinese economist as the government tries to help economic activity recover from this year’s slowdown. He was speaking via video to a conference on Wednesday organized by the Hong Kong Institute for Monetary and Financial Research.