China’s growth to pick up in 2023 on stimulus: CCTV

Bloomberg

China’s economic growth will accelerate in next year as stimulus policies take effect, CCTV reported, citing a senior planning official.
Existing pro-growth measures will be kept in place and more policies to boost the economy will be added, Han Wenxiu, an official at the Communist Party of China’s central financial and economic affairs commission, told a forum. So while the global economy slows, China may recover, Han said.
China has pledged to revive domestic consumption and support private businesses as the country moves away rapidly from its constrictive Covid
Zero policy and Beijing shifts towars boosting growth. That’s prompted some of the world’s largest investment banks to raise their forecasts for the nation’s economy in 2023 even as a surge in Covid cases clouds the near-term outlook.
At the same forum, Liu Guoqiang, deputy governor of the People’s Bank of China, said
that the central bank would maintain sufficient monetary aggregates for the economy and financial markets in 2023.