Policy easing and stronger exports have helped economy, but country still faces property crisis and weak demand
The World Bank has lifted its growth forecasts for China’s economy, but called for deeper reforms and warned that the country will continue to face headwinds from a lingering property downturn.
The Washington-based institution said that it expected China’s gross domestic product to rise by 4.9% in 2024 as a result of recent policy easing and stronger exports. That is up from June forecasts of 4.8% and is just shy of Beijing’s own 5% growth target.
About Author
More Stories
British Airways took £40m hit from power outage that closed Heathrow
Donald Trump suggests tariffs on China should be 80%, but it’s ‘up to Scott B’ – business live
TikTok fined €530m by Irish regulator for failing to guarantee China would not access user data