World Bank raises China's GDP forecast for 2024, 2025

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World Bank raises China's GDP forecast for 2024, 2025 - Channel News Asia

Quick Summary:

The World Bank raised on Thursday (Dec 26) its forecast for China's economic growth in 2024 and 2025, but warned that subdued household and business confidence, along with headwinds in the property sector, would keep weighing it down next year.

The world's second-biggest economy has struggled this year, mainly due to a property crisis and tepid domestic demand.

China Railway workers assemble a pipe jacking machine at the construction site of an underground railway station, in Huzhou, Zhejiang province, China, on Oct 17, 2024.