China's economic data surpasses forecasts, providing officials more time for 2024 growth strategy.

China's economic data surpasses forecasts, providing officials more time to establish a growth engine for 2024 and beyond. Recent indicators show relief for Chinese policymakers, as the economy appears to avoid near-term downside risks. Strong manufacturing activity data in January-February and a factory owners survey for March have boosted investor confidence. While there is cautious optimism, unless officials can figure out how to sustain growth, the market may stall later in the year.