- PBOC’s Yi: Expect China’s GDP this year to grow around 5%
Market news
14 April 2023
PBOC’s Yi: Expect China’s GDP this year to grow around 5%
People's Bank of China (PBOC) Yi Gang said in a statement on Friday, he is expecting the Gross Domestic Product (GDP) in China this year to grow around 5%, as the economy is rebounding and stabilizing, the property sector is rebounding and inflation is low.
Earlier this week, during the G20 meeting of finance ministers and central bank heads, Governor Yi and US Federal Reserve (Fed) Chairman Jerome Powell discussed the US and Chinese economic and financial developments.
Market reaction
USD/CNY was last seen trading at 6.8675, almost unchanged on the day. The Chinese Yuan failed to find any impetus from the above comment.
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