17 Apr 2024 International Economy China’s economy grew more than expected at 5.3% YoY in 1Q24, driven by the high-tech industry; full-year growth for 2024 projected at 4.5% YoY (Business Brief No.4054) คะแนนเฉลี่ย คะแนนเฉลี่ย 5 stars 4 stars 3 stars 2 stars 1 star China’s economy in 1Q24 was mainly boosted by a surge in high-tech manufacturing industry, while exports showed limited recovery and domestic consumption saw slower growth compared to the previous year.In 2024, domestic spending, particularly in the service sector and investment in technology-related industries, along with further monetary policy easing and targeted fiscal measures, will be key drivers of the Chinese economy. However, significant risks remain, including low consumer confidence and business sentiment, pressure from the troubled property sector, as well as geopolitical tensions and excess production capacity that could impact the country’s exports.Amid the challenges facing China’s economy, greater limitations to monetary policy easing if the US Federal Reserve delays its policy rate cuts, and no significant increase in the fiscal budget compared to the previous year, KResearch projects that the Chinese economy in the remaining quarters of this year will grow by less than 4.5 percent YoY, particularly in the second quarter due to pressure from the high base effect. As a result, China’s 2024 full-year economic growth is expected to reach 4.5 percent YoY. Annotation This research paper is published for general public. It is made up of various sources. Trustworthy, but the company can not authenticate. reliability The information may be changed at any time without prior notice. Data users need to be careful about the use of information. The Company will not be liable to any user or person for any damages arising from such use. The information in this report does not constitute an offer. Or advice on business decisions Anyhow. International Economy ChinaChinese economy Related Analysis View all 14 Mar 2018 International Economy Thailand must brace for trade disputes between the US, EU and China, etc. (Current Issue No. 2905) The US is pressing ahead with trade measures against trade partners globally. In addition to their new ‘safeguard tariffs’ on imported solar panels and large washing machines imposed early in 2018, and more recently on imported steel and aluminum, the US is now preparing to implement protectionist measures against Chinese products valued at around USD60 billion. This direction will likely add significant pressure to global trade, thus, KResearch views that all eyes should be closely kept on negotiations between the US and EU, both being among the largest economies in the world. Details on those negotiations are expected to be released before the relevant ‘safeguard tariffs’ on steel and aluminum become effective at the end of next week. If the EU and China are exempted from these new tariffs, prevailing anxiety will ease. But to the contrary, without such exemptions, China and the EU may opt to implement their own trade protectionist measures against the US, as well. This situation would likely escalate into further actions and reactions, incurring significant damage to trade that could spill over to other regions of the world.... 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