IMF Urges China to Shift to Consumer-Driven Growth Model to Resolve Economic Challenges

China needs economic policies to resolve property crisis, boost consumption, productivity - IMF urges "reinventing" China's growth model towards high-quality, consumer-driven growth
China faces "fork in the road" between old policies or new growth model - per IMF, more consumer focus could add $3.5 trillion to economy over 15 years
Officials express confidence in hitting 2023 growth target of 5%, support strategic sectors
Foreign investment into China dropped 20% in early 2023, officials trying to attract investors
China announced $140B ultra-long bond plan to spur investment, stabilize growth