According to the report, Wang's prediction is based on three reasons. "First, coronavirus lockdowns will hurt production less than consumption. Second, government and corporate investment will grow strongly. Finally, investment in housing can still grow despite a slump in sales as existing projects still need to be finished," said the report.
Wang argued that the recent export data suggests that global demand for Chinese production will continue this year as export growth rates remain above pre-pandemic levels.
China's total imports and exports expanded 10.7 percent year on year to 9.42 trillion yuan (1.48 trillion U.S. dollars) in the first quarter of 2022, official data showed Wednesday.
In the period, exports surged 13.4 percent year on year to 5.23 trillion yuan (821.7 billion dollars), while imports rose 7.5 percent to 4.19 trillion yuan (658.3 billion dollars), according to the General Administration of Customs.