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China’s latest economic data points to a bullish potential for economic recovery, Chaoping Zhu, strategist at JPMorgan Asset Management, said in a note.
Stronger GDP growth in Q4 was driven by a recovery in both domestic and external demand, Zhu noted.
However, investment activity in the real estate sector and social financing data from the PBOC reflect persistent caution, he added. The stock market’s muted response to the data suggests investors are waiting for greater policy clarity after the Chinese New Year, Zhu said.
