The IMF predicts that China's economy will grow by 4.6% in 2024. The recovery is mainly driven by domestic demand (especially private consumption) and also benefits from supportive macroeconomic policies.
The IMF Executive Board stated that real estate developers that do not have the ability to operate as a going concern should accelerate their exit from the market, according to the 2023 Article IV Consultation Report with China on the 2nd local time. The report said that China’s economy will see a strong recovery in 2023 due to its reopening after the epidemic.