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IMF upgrades China's 2023, 2024 GDP growth forecasts
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Busy port in Maoming, China's Guangdong Province, November 6, 2023. /CFP
The International Monetary Fund (IMF) on Tuesday upgraded its view of China's economy, citing a strong recovery as well as recent moves to further stabilize the real economy.
The IMF lifted its view on China's growth for this as well as for next year by 0.4 percentage point, taking its GDP view for 2023 to 5.4% growth and its 2024 GDP view to 4.6% growth.
"The authorities have introduced numerous welcome measures to support the property market, but more is needed to secure a quicker recovery and lower economic costs during the transition." said a statement from the IMF's first deputy managing director, Gita Gopinath.
China's latest moves just responded to the suggestions.
The People's Bank of China (PBOC) announced on November 2 that it plans to maintain the stability of monetary policy, pay more attention to cross-cycle and countercyclical adjustment, enrich its policy toolbox, and create a good environment for stabilizing prices.
China will steadily and prudently promote the internationalization of the renminbi, deepen reform and opening-up in the foreign exchange field, and promote the facilitation of trade, investment and financing, said the PBOC.
Meanwhile, the China Securities Regulatory Commission on November 1 underscored its commitment to improve the stock issuance registration system, strengthen systems and mechanisms, intensify investment reforms, attract more medium and long-term funds, and stimulate an active capital market.
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Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466