China's Key Policy Rate to Remain Unchanged This Year: BofA

The transcript discusses China's economic performance, highlighting the strong industrial rebound supported by domestic and external demand. However, the service sector lags, affecting overall growth. Consumption trends show a recovery in retail sales, but services remain slow due to COVID-19 concerns. The People's Bank of China (PBOC) is expected to maintain low interest rates to support the economy, as the service sector is still underperforming.

What does the National Bureau of Statistics say about China's consumption contribution to GDP growth?

What concerns are raised regarding the PBOC's potential actions in the coming year?

What is the overall outlook for the Chinese economy based on the data discussed?