The world’s second-largest economy outperformed expectations in the third quarter, with solid growth in both consumption and industrial activity, indicating that recent policy measures bolstered the recovery. Also, the government’s efforts to support the economy are gaining traction.
So, I present robust China stocks Trip.com Group Limited (TCOM – Get Rating), Vipshop Holdings Limited (VIPS – Get Rating), and FinVolution Group (FINV – Get Rating) that are well poised to soar. These stocks also boast robust profit margins.
China’s GDP grew by 4.9% year-on-year in the third quarter, surpassing analyst expectations of 4.4%. On a quarter-to-quarter basis, GDP expanded by 1.3% in the third quarter, accelerating from the second quarter’s 0.5% and higher than the expected 1% growth.
Moreover, China’s achievements are impressive as it has built enough solar panel factories to meet the world’s needs, established sufficient auto factories to serve China, Europe, and the United States, and plans to construct as many petrochemical factories as all those currently operating in Europe, Japan, and South Korea by the end of 2024. These developments underscore China’s commitment to bolstering its industrial and manufacturing sectors, promising a brighter economic future.
In addition, in a recent conference, China’s top leader, Xi Jinping, and government officials discussed finance policy. The outcome is positive, with a focus on channeling more financial resources to advanced manufacturing and assisting local governments. Despite challenges in the housing market, government-backed financing is boosting strong factory construction.
Besides, the latest China Economic Update from the World Bank projects positive prospects. China’s GDP is expected to rise to 5.6% in 2023, driven by a resurgence in consumer demand and the resilience of capital spending in infrastructure and manufacturing.
In light of these encouraging trends, let’s look…
Continue reading at STOCKNEWS.com