China economists expect 5.4% GDP growth in 2023: survey

Outlook upgraded on consumption recovery, exceeding Beijing's 5% target

Some economists are concerned that the recovery in consumption will slow down and hit overall growth this year. © Reuters

KENSAKU IHARA and FRANCES CHEUNG, Nikkei staff writers

April 6, 2023 16:01 JST

HONG KONG -- The Chinese economy this year is expected to grow faster than previously forecast and exceed the government's target of "around 5%," according to a survey of local economists.

A survey of 28 economists in March revealed that, on average, they expect the Chinese economy to grow 5.4% in 2023, up from 4.7% they forecast in December. The survey was jointly conducted by Nikkei and Nikkei Quick News.