Deutsche Bank bullish on China's consumption and equities

China's economy expanded 5.2 percent year-on-year in 2023, recent data from the National Bureau of Statistics showed. In an exclusive interview with China Daily, Jason Liu, head of Chief Investment Office APAC at Deutsche Bank Private Bank, said he expects positive factors for Chinese economy in 2024 would include the continual improvement of household consumption and more pro-growth economic policies. Deutsche Bank expects an overall pick-up of the market in the later part of the year, he said.

"We think growth recovery would become solid in the later part of the year, which should support market sentiment. The valuation of Chinese equities is already very attractive. We think there is more upside to Chinese equities than downside in the next 12 months," he said.