Reported 4 months ago
The International Monetary Fund has increased its growth forecast for China's economy to 5% for this year, up from 4.6%, citing a strong start in 2024 and government support. The IMF also raised its GDP forecast for next year to 4.5% from 4.1%. Despite a better-than-expected expansion in the first quarter, challenges persist in the property sector and the IMF is urging Beijing to provide more support to resolve the housing crisis. Gita Gopinath, the Fund's First Deputy Managing Director, emphasized the need for further fiscal and monetary measures to stimulate the economy, especially in the real estate sector. Trade tensions and restrictive trade policies are also highlighted as risks to the global trading system.
Source: YAHOO