jan 19 reuters  chinese companies are expected to report their highest earnings growth in five years refinitiv data shows as economic reopening after covid lockdowns and accommodative monetary policy raise hopes for higher profits according to refinitiv ibes data chinas large and midcap companies profits are seen rising 162 in 2023 the fastest growth since 2017 the analysis is based on 1164 companies with a market capitalisation of at least 1 billion optimism has risen after china reopened following three years of maintaining a strict zerocovid policy and beijing pledged additional policy support to boost the ailing domestic economy herald van der linde head of the equity strategy at hsbc said the easing of covid19 restrictions and support from the property market would boost the outlook for consumer and travelrelated 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 345 335 and 278 respectively meanwhile the tech sector is expected to see earnings growth of 27 compared with 94 in 2022 while the property sector would witness 94 higher profits after a 49 drop last year ecommerce company jdcom 9618hk and technology infrastructure and marketing platforms provider alibaba group are expected to report profit growth of 288 and 183 respectively profits of tech giant tencent holdings 0700hk are expected to rise abbout 19 this year after a slump in 2022 chinas video game regulator lifted many curbs for the industry and granted multiple publishing licences to tencents games for domestic release last month read more we expect china to outperform asia exjapan due to its fasterthananticipated reopening continuing domestic policy support and potential for stronger earnings growth said mark haefele chief investment officer at ubs global wealth management in a note this month reporting by gaurav dogra in bengaluru additional reporting by patturaja murugaboopathy in bengaluru editing by vidya ranganathan and tomasz janowski