Deustche Bank economists Zhiwei Zhang and Yi Xiong commented in a note
- The main reason for the change is a surprising rebound in property and land markets
- This will support government spending and property investment
- 2019 and 2020 forecasts remain unchanged at 6.3%
- Xi's speech earlier "emphasised the reform to further open the economy to foreign investment, which is also positive for growth"
Earlier last month, China premier Li Keqiang mentioned that they are targeting a GDP growth figure of 6.5% this year. So, that will be the baseline for China's statisticians to aim for - if you know what I mean.
