China companies set for biggest earnings growth in 5 years in 2023: Part 2

Herald van der Linde, head of the equity strategy at HSBC, said the easing of COVID-19 restrictions and support from the property market would boost the outlook for consumer and travel-related sectors in mainland China.

The Reuters analysis showed utilities, consumer staples and consumer discretionary sectors are expected to lead growth with their estimated profit growth of 34.5%, 33.5% and 27.8%, respectively.

Meanwhile, the tech sector is expected to see earnings growth of 27% compared with 9.4% in 2022 while the property sector would witness 9.4% higher profits after a 4.9% drop last year.