China's economic growth data for the April to June quarter of 2023.
The q/q has beaten expectations, which is a positive. The y/y is heavily impacted by base effects.
China's National Bureau of Statistics (NBS)
- says the national economy showed good momentum of recovery in H1 of the year but adds that the foundation of the domestic economic recovery is not solid.
- China is confident and capable to achieve economic growth targets
- economy expected to improve more
- economy is gradually recovering from the pandemic effects