【IMF】U.S. Inflation Expectations During the Pandemic.pdf

China Policy:Credit growth is expected to rebound in 2023

China Economy – PMI beat expectations as economy continues to recover

Expect steady growth with policy tailwinds

Expect a profit turnaround in 2023E

2Q loss reduction trend better than expectation

Net profit 1H24 +2.7x YoY, beat expectations

China Economy: Exports continued to beat expectations with uncertainty ahead

Expect $3.5bn CB dilutive effect to be short-term

Expect higher ASP following China’s stimulus

Expect strong sales in 2023 driven by the US approval of zanubrutinib in CLL