Having upgraded China’s economic growth target from 4.6% to 5% in 2024, the International Monetary Fund (IMF) Deputy Managing Director lauded China’s effort to prop up its property market.
Having upgraded China ’s economic growth target from 4.6% to 5% in 2024 on a strong first quarter, the International Monetary Fund Deputy Managing Director lauded China ’s efforts to prop up its property market. Key quotes IMF expects China 's economic growth to slow to 3.3% by 2029 due to aging, slower productivity growth. IMF upgrades China 's 2025 economic growth target to 4.5% from 4.1%. We see scope for a more comprehensive policy package to address property sector issues.
Macroeconomic policies should support domestic demand and mitigate outside risks. Policy should prioritise providing central government support to the real estate sector. Welcomes monetary policy measures implemented in 2024 to date. China should continue with economic reforms to boost productivity, level the playing field among all types of firms. Create a good business environment that is market orientated and law-based.
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