China’s latest economic data points to some potential for economic growth, JPMorgan Asset Management strategist Chaoping Zhu said in a note.
Stronger GDP growth in the 4th quarter was driven by a recovery in local and external demand, Zhu noted.
However, investment activity in the real estate sector and the PBOC’s data on social financing reflected lingering caution, he added. The muted stock market reaction to the data suggests investors are waiting for further policy clarity after the Chinese New Year, Zhu said.
