Insight
China economic focus January 2024: sectors to watch
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
China’s GDP is expected to grow by 4.6% in 2024. The real estate infrastructure and auto sectors are going to be pivotal to growth this year. The slump real estate sector will continue to weigh, but the government’s social housing and urban renewal projects will offer some support. Infrastructure will be a key countercyclical measure in 2024. The central government will lead the infrastructure investment, while local governments with high debt will see shrinking investment. Auto production will slow in 2024. Policy support will continue, but domestic pent-up demand is fading, and EV exports to the EU will be challenged by the anti-subsidy investigations.
Table of contents
- Executive summary
- Real estate: limited room for downside
- Infrastructure: the stabiliser for the economy
- The auto sector: challenges to come
- Appendix
Tables and charts
This report includes the following images and tables:
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Weekly housing sales of 21 citiesGrowth of infrastructure sectorsDebt levels of the 12 provinces
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Wood Mackenzie's proprietary China dataManufacturing PMIIndustrial production and retail salesTradeInflationPropertyInvestmentMoney supply (M2)Required reserve ratio
What's included
This report contains:
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