BlackRock forecasts slower China GDP growth
The US fund manager says much depends on the government, but expects economic growth to slow in the second half. As such, it is underweight Chinese banks.
Chinese regulations tightening credit will leading to shrinking GDP growth on the mainland, according to BlackRock.
The country posted GDP growth of 7.7% in the first quarter and 7.5% in the second quarter, and the US fund house anticipates significant downside risk that could lead to a further slowdown in the second half of the year.
Andrew Swan, head of Asian fundamental equities at BlackRock, says GDP growth “really depends on what the government does”, but the firm expects C…
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