China's electric vehicle (EV) Sector is experiencing significant growth, according to Standard Chartered CEO Bill Winters. He stated that China's recovery may be bumpy, but it is building a more resilient and sustainable economy by decompressing old economy sectors and accelerating in new economy sectors. China is the world's largest EV market, with 5.9 million units sold in 2022, accounting for 59% of global EV sales. However, the country's property market has been impacted by a decline in consumer confidence. Standard Chartered is reducing its exposure to China's troubled property sector but remains committed to the Chinese market.

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