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China's economic performance looks 'warmer' for upcoming year

By Cheng Yu and Liu Zizheng | chinadaily.com.cn | Updated: 2023-11-23 13:44

Caijing Annual Conference kicked off in Beijing in November. [Provided to chinadaily.com.cn]

China's overall economic performance will be "warmer" next year, and the stock and foreign exchange markets are expected to embrace an upward turning point soon, said leading economists at Caijing Annual Conference, an industry event, on Wednesday.

Li Daokui, an economist with Tsinghua University, said that China's overall economic performance will be "warmer" next year with a higher capital intensity than this year.

"The country is expected to embrace important adjustments in its economy next year and the government is expected to put more emphasis on stabilizing growth and reduce risks," Li said.

Zhang Ming, deputy director of the Institute of Finance and Banking at the Chinese Academy of Social Sciences, expected that the short-term turning point of the country's foreign exchange market and stock market is already "on the way".

His prediction was based on the continued rebounding performance of major macroeconomic indicators from August to October after a bottom-out in July.

"Also, US-Sino relation is improving and is heading for a positive path, at least in the short term, which are gradually boosting the confidence and major concerns of both domestic and foreign investors," he said.

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