IMF: China at 'Fork in the Road,' Urges New Policies to Resolve Property Crisis and Unlock $3.5 Trillion Growth Potential

• China faces a "fork in the road" and needs to reinvent itself with new economic policies to resolve property crisis, boost consumption and productivity per IMF • IMF analysis shows more consumer-centered policies could add $3.5 trillion to China's economy over 15 years • China should take steps to complete unfinished housing projects and reduce local debt risks • Foreign investment into China shrank in 2022, but officials are trying to attract more investors • Chinese officials expressed confidence in hitting 2023 growth targets and pledged support for strategic sectors