Winters described the investing environment in China as 'difficult,' explaining consumer confidence and international investor confidence was relatively low.
Winters described the investing environment in China as "difficult," explaining that consumer confidence and international investor confidence was relatively low.
"We know that the underlying source of a lot of the confidence questions is the property market, and the property market has not yet completely bottomed out, so it's been a slow grind down," he added. Last week, Bank of America cut its GDP growth forecast for China to 4.8% for 2024 from 5% earlier, and also trimmed its forecasts to 4.5% for both 2025 and 2026, down from 4.7%.
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