China economic focus July 2023: 5% GDP target at risk

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China’s sluggish recovery in Q2 puts the 5% growth target at risk. Weak domestic and external demand for goods is behind poor industrial production. Domestic consumption is weakened by high youth unemployment and households prioritising mortgage repayment. The politburo meeting in late July showed that the government would continue to issue supportive measures to secure the growth target. Boosting private confidence and household consumption are the priorities.

Table of contents

  • Executive summary
  • China’s sluggish recovery in the second quarter
  • Depressed domestic demand for goods
  • External demand deteriorates further
  • The government’s supportive measures aim to secure growth targets
  • Appendix

Tables and charts

This report includes 13 images and tables including:

  • Retail sales of catering vs goods
  • Youth unemployment vs urban total unemployment
  • Export value growth by region
  • Export value growth by product
  • 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 July 2023: 5% GDP target at risk

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