-- The Asian Development Bank increased its economic forecast for China for the year, as Beijing is expected to focus its support for high technology sectors.
China's gross domestic product was set at 4.6% for 2026, higher than the previous forecast of 4.3%, but lower than the year-ago GDP of 5%, according to a report published during the weekend.
The first-quarter GDP was at 5.4% amid subdued investment growth and weakened household consumption.
The government's support for high-tech innovation is expected to boost investment in the country, while still managing weak investment within the infrastructure and property sector. The ADB also predicted that exports will continue supporting the country's growth, although it would be weaker than the previous year, with China slowly shifting focus to non-U.S. trade partners.
The ADB predicted China's GDP in 2027 to further weaken to 4.5%.