UBS predicts nearly 5% GDP growth for China in 2023

Swiss financial services firm UBS on Monday released its economic outlook for China in 2023, forecasting 4.9 percent GDP growth and a recovery in the A-shares market. According to Meng Lei, China equity strategist at UBS Securities, the A-shares market is expected to rise 20 percent in 2023, with the ChiNext board experiencing even quicker growth. UBS also predicts that Chinese companies will continue to be eager to enter the capital market in 2023, with the number of initial public offerings (IPOs) potentially matching or exceeding the 424 seen in 2022.

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