World Bank raises China's GDP forecast for 2024, 2025; adds some warnings

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World Bank raises China's GDP forecast for 2024, 2025; adds some warnings - Business Standard

Quick Summary:

Thanks to the recent policy easing and near-term export strength, the World Bank sees China's gross domestic product growth at 4.9 per cent this year, up from its June forecast of 4.

Beijing set a growth target of "around 5 per cent" this year, a goal it says it is confident of achieving.

To revive growth, Chinese authorities have agreed to issue a record 3 trillion yuan ($411 billion) in special treasury bonds next year, Reuters reported this week.