Moody's Boosts China's 2024 Growth Forecast Amid Manufacturing Surge

Moody's has revised China's 2024 growth forecast upward to 4.5% from 4.0%. The improved outlook is driven by a post-pandemic strategy focused on manufacturing and exports. The first quarter saw notable gains in trade and manufacturing, bolstered by supportive fiscal policies, according to the ratings agency.

Moody's raised China's growth forecast for 2024 to 4.5% from 4.0%, it said in a statement released on Monday, noting that China's post-pandemic manufacturing and export-focused growth strategy is taking shape.

Growth in the first quarter was boosted by trade and manufacturing activity, with fiscal policy supporting the latter, the ratings agency said.