IMF Upgrades China’s 2024 Growth Forecast to 5%, Raises 2025 Outlook

May 29, 2024, 02:16 AM

The International Monetary Fund (IMF) has upgraded China's economic growth forecast for 2024 to 5%, up from the previous 4.6%. The IMF also revised China's GDP growth outlook for 2025 to 4.5%, an increase of 0.4 percentage points from its April projections. This adjustment follows a strong first quarter and policy measures. However, the IMF has noted that more support is needed for the property sector and has issued warnings regarding China's industrial policy.