An economist at ANZ (spoke in a CNBC interview) says that while China is showing 'early signs' of economic stabilization it's still too early to tell if the economy will secure a full recovery by the end of the year.
- in terms of economic momentum we are seeing some early signs of some sort of stabilization
- we have recently revised up our 2023 GDP growth forecast to 5.1% from 4.9%
On China's property sector:
- recent policy from demand side easings have exceeded our previous expectations
- it creates some genuine demand at least in the upcoming traditional sales seasons in late September early October
- that should help to restore part of the market sentiment
- but from the longer term perspective it doesn't mean that you know the structural issues existing in China's property sector have been addressed yet specifically
