China

The IMF projects China’s GDP growth to be 4.6% in 2024, with a slowdown to 4% in 2025, attributed to ongoing challenges in the property sector impacting private demand and local government budgets. Despite a higher-than-expected 5.2% growth in the previous year, China faces significant data transparency issues, particularly highlighted by the suspension of youth unemployment statistics. The IMF urges China to address these data gaps amidst continued economic uncertainties and a potential 5% growth target for 2024.