International financial organizations raise China's 2025 growth forecasts

(ECNS) -- Several international financial organizations have raised their growth forecasts for China's 2025 economy in recent days.

The International Monetary Fund (IMF), expects China's GDP growth to reach 5% in 2025, up 0.2 percentage points from its World Economic Outlook released in October, said IMF Managing Director Kristalina Georgieva in Beijing on Wednesday.

Georgieva noted that with stronger policy support, China is well-positioned for more robust growth ahead. China's contribution to global economic growth is expected to remain around 30% in the coming years, she said.

Similarly, the World Bank released its latest China Economic Update in Beijing on Thursday, raising its forecast for China's 2025 economic growth by 0.4 percentage points compared with its previous report.

It said that accommodative fiscal and monetary policies supported domestic consumption and investment. Simultaneously, demand from developing countries sustained exports.

The Asian Development Bank (ADB) also lifted its projection for China's 2025 growth by 0.1 percentage points in its Asian Development Outlook 2025 published on Wednesday.

The report forecasts that developing economies in the Asia-Pacific region will grow 5.1% in 2025, up from the 4.8% projected in September.

(By Gong Weiwei)