China’s economic recovery from the COVID-19 shock is essentially complete – Goldman Sachs

Goldman Sachs cites risks, both upside and downside, to China’s economic recovery amid chatters of strong rebound after the coronavirus (COVID-19) pandemic, as well as ahead of April’s official PMI.

The bank expects 8.5% read GDP for 2021 while citing Beijing’s strong run-up after the covid-led economic shock.

The piece cites “potential for stronger-than-expected exports” as posing upside risk. Alternatively, Goldman also said, “The recent tightening of financial conditions and emission-related industrial output curbs posing downside risks.”

Also read: AstraZeneca’s struggle, China’s fresh restrictions on big techs may weigh on sentiment