IMF Boosts China's Growth Forecast to 5% After Strong Q1

The IMF has upgraded China's 2024 growth forecast to 5% from 4.6%, citing strong first-quarter performance and recent policy measures. The forecast for 2025 has also been raised to 4.5%, but growth is expected to slow to 3.3% by 2029 due to an aging population and slower productivity. The IMF emphasized the need for comprehensive policy actions to support the real estate sector and stimulate housing demand.