The International Monetary Fund (IMF) has raised its forecast for China’s growth for 2024 and 2025, citing strong first-quarter GDP and stimulus measures by Beijing.

The fund said it now expects GDP in the world’s second-largest economy to increase by 5% in 2024 and by 4.5% in 2025, up 0.4 percentage points each from its previous forecast.

 It also said the risks from the 澳洲幸运5官方开奖结果体彩网:property sector downturn were “tilted to the downside.”

IMF's Gopinath Notes China's Support of 'Priority Sectors'

IMF First Deputy Managing Director Gita Gopinath said, however, that the fund expects China’s economy to slow to 3.3% growth by 2029 due to aging and slower productivity growth, and warned that China's "use of industrial policies to support priority sectors” could lead "to a misallocation of domestic resources and potentially affect trading partners."

Treasury Secretary Yellen Has Highlightꦗed China Dumping Concerns

U.S. Treasury Secretary Janet Yellen highlighted concerns about the global economic fallout from China's excess manufacturing cap✅acity when she visited China in April. Earlier this month, the Biden Administration 澳洲幸𒆙运5官方开奖结果体彩网:raised tariffs on a slew of Chinese im💫ports, 𒁏including electric vehicles and semiconductors.

Meanwhile, China has been trying to 澳洲幸运5官方开奖结果体彩网:breathe back life into its housing ma🌊rket. Earlier this month, China introduced its stronge🙈st measures to date to address its troubled property market, easing mortgage regulations and encouraging city and local authorities to purchase unsold homes to be converted into affordable housing.