China’s economy

July 15, 2024 9:22 AM

China’s economy falters as property, consumer pain worsens amid rising uncertainties

China's economy is facing increasing external uncertainties and many domestic difficulties and challenges in the second half, a spokesperson for the National Bureau of Statistics said on Monday. China's GDP growth of 5% in the first half was "hard won" as businesses face relatively large pressures and key sectors face many risks, the spokesperson said in a statement published on the bureau's website. The spokesperson also said China's economic growth in the second quarter was affected by short-...

IMF upgrades China’s 2024, 2025 GDP growth forecasts but warns of risks ahead

China's economy is set to grow 5% this year, after a "strong" first quarter, the International Monetary Fund said on Wednesday, upgrading its earlier forecast of 4.6% expansion though it expects slower growth in the years ahead. The global lender's new projections come as Beijing steps up efforts to shore up an uneven recovery in the world's second-biggest economy, which has stumbled in the face of a protracted property crisis and its ripple effects across investors, consumers and businesses. ...