IMF: China to contribute a third to global growth in 2023 with robust rebound

2023-03-27 Editor : Luo Pan ECNS App Download

China, which is seeing a strong rebound in economy, is set to account for around a third of global growth in 2023, the head of the International Monetary Fund (IMF) said in a speech delivered to the China Development Forum 2023 on Sunday.

Kristalina Georgieva, speaking on the second day of the annual forum held in Beijing, referred to the solid economic recovery in China as "green shoots" in the world economy, which is currently afflicted by scarring from the pandemic, geo-economic fragmentation and financial stability risks.

Georgieva pointed out that China's recovery gives a welcome lift to the world economy. According to IMF analysis, a 1-percentage-point increase in China's GDP growth leads to a 0.3-percentage-point increase in growth in other Asian economies on average.

"With such a solid recovery, China can now build on positive momentum, and through comprehensive policies, stay on the growth path towards convergence with advanced economies," she added.


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