The International Monetary Fund raises its forecast for China's economic growth rate in 2025

Beijing, December 10 (Xinhua) -- International Monetary Fund (IMF) Managing Director Georgieva stated on December 10 that despite facing multiple shocks, the Chinese economy has shown significant resilience. The IMF predicts that China's economic growth rate will reach 5% by 2025, which is 0.2 percentage points higher than the World Economic Outlook report released in October this year.

On the same day, Georgieva attended the press conference for the 2025 China Article IV Consultation held in Beijing. She said that thanks to a series of macro policy measures launched by the Chinese government and other factors, the IMF has made the decision to raise China's economic growth rate.

She said that the IMF has noticed that the Chinese government recognizes the importance of boosting consumption to drive economic growth and has taken a series of powerful measures to stimulate economic growth potential.

Georgieva said that China has always had a tradition of formulating development plans and taking measures to promote the achievement of goals. From the implementation of the 14th Five Year Plan, the results have been quite significant. Facing the 15th Five Year Plan, China will continue to promote high-quality development and further shift towards a consumption driven economic growth model. China has a population of over 1.4 billion and constitutes a huge domestic market, which will become an important potential for future economic growth. We strongly support China's determination to transform its growth model

Georgieva stated that with stronger policy support, she believes the Chinese economy can achieve stronger growth in the future. It is expected that China's contribution to global economic growth will remain at around 30% in the coming years

The fourth clause consultation is the IMF's annual routine assessment and evaluation of member countries' economic performance and macroeconomic policies. From December 1st to 10th, the IMF sent a delegation to visit China and conducted consultations with China on Article IV of 2025. The delegation members discussed China's economic development, risks, and important policies with Chinese government officials, representatives of private enterprises, scholars, and others.