Deutsche Bank Sees China Growing 4.7% in 2026 as Policy Support Lifts Services Demand
Updated
Updated · China Daily · Jul 23
Deutsche Bank Sees China Growing 4.7% in 2026 as Policy Support Lifts Services Demand
2 articles · Updated · China Daily · Jul 23
Summary
Deutsche Bank kept its 2026 China GDP growth forecast at 4.7%, saying growth should hold up through the second half within Beijing’s 4.5%-5% target range.
Lower oil prices and stronger policy support are expected to bolster domestic demand, with the bank pointing especially to a services-sector boom.
Recent government steps include longer holidays, expanded leave, elderly-care support and childcare subsidies, which chief economist Xiong Yi said should lift services consumption.
Xiong said that push could make services spending a main engine of consumer demand over the next five to 10 years, while China’s longer-term competitiveness increasingly rests on AI, technology and advanced manufacturing.