Goldman Sachs Group Inc. upgraded its forecasts for China's economic growth in 2024 and 2025 following new government measures to boost the economy. The upgrade comes after Beijing announced plans for greater public spending and fiscal support. Goldman expects the measures to add to growth in 2024, offsetting slowing exports and a property downturn. The nation’s top economic planning agency plans to pre-approve investment projects for 2025. Goldman warned that China’s structural challenges, including aging demographics and global supply chain shifts, remain a concern for long-term growth.
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00:00It's Benzinga, and here's what's on the block.
00:03Goldman Sachs upgraded its forecast for China's economic growth in 2024 and 2025 following
00:08new government measures to boost the economy.
00:11The upgrade comes after Beijing announced plans for greater public spending and fiscal
00:15support.
00:16Goldman expects the measures to add to growth in 2024, offsetting slowing exports and a
00:20property downturn.
00:22The nation's top economic planning agency plans to pre-approve investment projects for
00:262025.
00:28Goldman warned that China's structural challenges, including aging demographics and global supply
00:32chain shifts, remain a concern for long-term growth.
00:35For all things money, visit Benzinga.com.