0415 GMT - HSBC upgrades China's 2025 GDP growth forecast to 4.8% from 4.5% after Beijing's more decisive policy support to revive domestic consumption and strong activity data in the first two months. HSBC also raises its 2026 forecast to 4.5% from 4.4%, the bank's economists say in a research note. Beijing's latest consumption-boosting plan puts emphasis on structural support, such as boosting incomes and encouraging better coverage of social safety nets, as opposed to only centering on near-term measures, they say. Despite the rosier outlook, they acknowledge that the downside risks to growth have also grown. China faces more tariff risks from the U.S. and other trade partners while there are renewed signs of pressure from the property sector, they add. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
March 18, 2025 00:15 ET (04:15 GMT)
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