Having raised China's economic growth target from 4.6% to 5% in 2024 After a strong first quarter, the Deputy Managing Director of the International Monetary Fund (IMF) praised China's efforts to shore up its real estate market.
Key data
The IMF expects China's economic growth to slow to 3.3% by 2029 due to aging and slower productivity growth.
IMF raises China's 2025 economic growth target to 4.5% from 4.1%.
We see scope for a more comprehensive policy package to address the real estate sector's problems.
Central government resources should be deployed to help buyers of unfinished pre-sold homes.
Macroeconomic policies must support domestic demand and mitigate external risks.
The policy must prioritize central government support for the real estate sector.
We welcome the monetary policy measures implemented to date in 2024.
China must continue economic reforms to increase productivity and level the playing field among all types of businesses.
Create a good business environment that is market-oriented and law-based.
IMF research shows that over a 15-year period, with good reforms, China's GDP could be 18% higher.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
