星展银行：2025-2040年中国经济展望报告：科技与政策双轮驱动增长根基（英文版）

The next decade and half would likely see China move up the value chain of manufacturing and services in a substantive manner. Immediate concerns about its prolonged property sector crisis, aging demographics, and intensifying trade war tend to obfuscate the country’s ongoing foundational transformation. This report incorporates the near-term headwinds, and yet comes through with a constructive take on the medium term, based on China’s tech transformation and supportive policies. Our growth mode