Experts credit China’s brighter economic outlook to steady policy support, resilient demand

Experts attribute China's improved economic outlook to steady policy support and resilient demand, as various international financial organizations have revised their growth predictions for the Chinese economy upward.

Following the release of China's second-quarter economic data, more than a dozen international financial institutions and investment banks have revised their growth forecasts for the Chinese economy upward, with many doing so for the second time in just six months.

Morgan Stanley, in its mid-year outlook, raised its 2025 GDP growth forecast for China by 0.3 percentage points, with an additional 0.2-point increase for both 2026 and 2027. UOB followed suit with a 0.3-point adjustment, Nomura increased its forecast by 0.5 points, and Goldman Sachs made the most significant upward revision of 0.6 points.

In interviews with foreign financial experts, one word kept emerging: "resilience."

They said the reason for giving this term came from the continuously strengthened policies, the continued improvement in the macroeconomic situation, and many bright spots at the micro level.

"[The resilience in its economy] stems from China's ultra-large domestic market, its comprehensive and flexible industrial system and infrastructure, the unleashing of technological innovation and entrepreneurial spirit, the advancement of structural reforms and high-level opening-up, as well as the implementation of counter-cyclical policy support," said Zhang Ning, senior economist at UBS.

Other economists point to the nimbleness in the Chinese economy.

"[I] think I would use the word nimble to describe the Chinese economy. China can adapt well to various domestic and economic conditions to maintain a steady growth pace while maintaining macro stability. Overall, I think I maintain an optimistic outlook on the future of the Chinese economy," said Tang Jicheng, senior economist at Allianz Investments Asia Pacific.

Experts credit China’s brighter economic outlook to steady policy support, resilient demand

Experts credit China’s brighter economic outlook to steady policy support, resilient demand

Experts credit China’s brighter economic outlook to steady policy support, resilient demand

The Republic of Korea (ROK)'s former impeached President Yoon Suk-yeol on Friday was sentenced to five years in prison on arrest obstruction charges.

The criminal division of the Seoul Central District Court in charge of Yoon's obstruction of justice case handed down the prison sentence to Yoon for abusing the presidential security service to hinder the anti-corruption agency from executing its arrest warrant in January 2025.

The Corruption Investigation Office for High-ranking Officials (CIO) was once thwarted in its attempt to arrest Yoon as the presidential security service formed human shields and bus blockades to prevent investigators from entering the presidential residence.

The team of Cho Eun-suk, an independent counsel who led investigations into Yoon's insurrection and other charges, demanded a 10-year prison term for Yoon.

The court said Yoon privatized the presidential security service for personal safety and private interests by blocking the law enforcement agencies' lawful execution of an arrest warrant and attempting to destroy evidence, pointing out that despite the very bad nature of his crime, he consistently offered unconvincing excuses and showed no remorse.

The court stressed that severe punishment was necessary, considering the need to restore the rule of law damaged by Yoon's crime, but it noted that the fact that he was a first-time offender with no criminal record was considered a favorable factor.

The sentencing, which was broadcast live, was Yoon's first verdict coming from his botched martial law bid.

The first-instance sentencing for Yoon's insurrection charges was scheduled for Feb 19. The special counsel sought a death penalty for Yoon on the charges.

Yoon declared emergency martial law on the night of Dec 3 in 2024, but it was revoked hours later by the National Assembly.

The constitutional court upheld a motion to impeach Yoon in April 2025, officially removing him from office.

The ousted leader was indicted while in detention in January 2025 on charges of leading an insurrection, becoming the first sitting ROK president facing such prosecution.

ROK ex-president Yoon sentenced to 5 years in prison on arrest obstruction charges