August 3, 2024

China's economy has demonstrated notable resilience, with its GDP projected to grow by 5 percent in 2024 and 4.5 percent in 2025, according to the final report for China's 2024 Article IV Consultation released by the International Monetary Fund (IMF) on Friday.

China's 2024 GDP growth is projected to be broadly in line with the country's target, and inflation is expected to pick up gradually as the output gap closes and the impact of lower commodity prices wanes, the report said.

The IMF highlighted Chinese government's efforts to facilitate property sector adjustments and boost homebuyers' confidence. Monetary policy measures implemented by the People's Bank of China, the country's central bank, was also acknowledged. 

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