China economic focus January 2024: sectors to watch

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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 12 images and tables including:

  • Weekly housing sales of 21 cities
  • Growth of infrastructure sectors
  • Debt levels of the 12 provinces
  • Wood Mackenzie's proprietary China data
  • Manufacturing PMI
  • Industrial production and retail sales
  • Trade
  • Inflation
  • Property
  • Investment
  • Money supply (M2)
  • Required reserve ratio

What's included

This report contains:

  • Document

    China economic focus January 2024: sectors to watch

    PDF 1.12 MB