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The International Monetary Fund (IMF) recently lifted its forecast for China's 2025 GDP growth to 4.8 percent, up from 4.0 percent in April. According to Marshall Mills, the IMF's senior resident representative in China, this upgrade is driven by a stronger-than-expected economic performance in the first half of the year and lower-than-anticipated tariffs between the U.S. and China. He also noted that fiscal stimulus and reforms to clear local government arrears have helped boost domestic demand.