Reported 4 months ago
The IMF has upgraded China's GDP growth forecast to 5% for 2024, citing a strong first quarter and additional policy measures. However, the IMF warns of risks ahead, such as a slowing economy in the years to come due to an aging population and lower productivity growth. The upgrade aligns with Beijing's growth target of around 5%, with several economists revising their projections following stronger-than-expected first quarter data. Challenges remain, particularly in the property sector crisis, which is seen as a major obstacle to a full economic recovery.
Source: YAHOO