According to the World Bank’s forecasts, the Chinese economy is expected to grow by 5.2 per cent in 2023. Thanks to a gradual recovery in consumer sentiment and stimulus policies, growth is expected to stabilise in the near term. This is reported by
China Daily, a partner of TV BRICS.

China’s economic update released by the World Bank indicates that the world’s second-largest economy is expected to grow by 4.5 per cent in 2024.

To sustain growth, the government plans to stick to moderately expansionary fiscal and monetary policies. China has already made significant adjustments to its economic policy at the annual central economic working conference.

The conference called for intensified efforts to make counter-cyclical macro policy adjustments and continue to implement active fiscal and monetary policies. China maintains a positive outlook for economic and social development.

Photo:
IStock