Why Global Banks Upgrading Their China Outlook?

Global banks are turning increasingly upbeat about China’s economic trajectory. Financial institutions like Goldman Sachs now expect China’s exports to grow 5 to 6 percent annually over the next few years, more than double their earlier forecasts. It has also nudged its forecast for China’s GDP growth this year from 4.9 to 5 percent. Analysts are broadly optimistic, anticipating that continued policy support, structural upgrades, and the unleashing of domestic potential will sustain China's economic momentum. What’s the state of China’s economy? And why have global banks become more optimistic about it?