All articles tagged with #policy measures
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.
China's manufacturing sector contracted for the fourth consecutive month in July, according to the official Purchasing Managers' Index (PMI), while the non-manufacturing PMI also fell to its lowest level since December. In response, the Chinese government unveiled a series of measures to boost domestic consumption, including increasing consumer loans for car purchases, building more EV charging facilities, and supporting the consumption of wearable devices and smart products. However, analysts warn that more substantial policy support is needed to prevent the economy from slipping into a recession.