News
James B. Bell
- November 07, 2023
The International Monetary Fund (IMF) has revised its outlook for China's economy, indicating a better-than-expected performance and efforts to revitalize the struggling property market.
Upgraded Growth Projection
The IMF has raised its growth projection for China for both this year and the next by 0.4 percentage points. According to the latest forecast, China's GDP is expected to grow by 5.4% in 2023 and 4.6% in 2024.
Measures to Support the Property Market
Challenges in the Chinese Stock Market
While China's economy has been on an upward trajectory, the stock market has faced challenges, particularly due to concerns surrounding the property sector and the country's gradual rebound from the impact of COVID-19. As a result, the Shanghai Composite (CN:SHCOMP) recorded a 1% decline this year, and the Hang Seng (HK:HSI) experienced a 10% drop.
As China continues its efforts to navigate through these challenges, the revised growth forecast suggests a positive outlook for its economy. With continued support and implementation of effective measures, China aims to achieve a robust recovery and sustain its growth momentum in the coming years.
Related Articles
IFF Sales Setback
International Flavors & Fragrances faces a setback as stock plunges, sales forecast falls short of expectations, dividend gets cut to enhance financial flexibil...
Country Garden Holdings Reports First-Half Results
Country Garden Holdings will release its first-half financial results, expecting a net loss. The company focuses on debt management, cash position, and cost red...
A Firm Making Major Moves in the Third Quarter
Renaissance Capital LLC has made significant changes in its investment portfolio during the third quarter, including increased stakes in Palantir Technologies a...