World Bank Raises China's 2024 GDP Growth Forecast to 4.9%, 0.1 Percentage Points Higher, Projects 4.5% for 2025

Dec 26, 2024, 05:57 AM

The World Bank has raised its forecast for China's economic growth in 2024 to 4.9%, an increase of 0.1 percentage points from its previous estimate made in June. This adjustment reflects the impact of recent policy easing and near-term export strength. Additionally, the World Bank has projected China's GDP growth for 2025 at 4.5%. The organization emphasizes the importance of balancing short-term growth support with long-term structural reforms to revitalize economic momentum. Despite facing challenges such as a real estate crisis and high youth unemployment, China's economy has shown resilience, achieving a growth rate of 4.8% in the first three quarters of 2024.