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Goldman Sachs Sees China Growth Picking Up in Second Half 2023
China’s gross domestic product growth will likely pick up in the second half of 2023 after the economy weathers the initial negative impact exiting its Covid Zero strategy in the spring, according to Goldman Sachs Group Inc. Assuming that the country starts reopening in April, annualized quarter-on-quarter growth is expected to accelerate to 10% in the June-September period from just 2% in the second quarter, economists led by Hui Shan wrote in a note Thursday. That will help full-year expansion reach 4.5% in 2023, rebounding from an expected 3% this year, they said. “Beneath the full-year growth acceleration, ... (full story)