China's Economy Rebounds to 5% Growth in 2023 After COVID Curbs Lifted

China's economic growth rebounded to around 5% in 2023 after COVID restrictions were lifted
Recovery was driven by domestic demand and supported by relaxed monetary policy, tax relief, and disaster relief spending
Inflation fell in 2023 due to lower energy and food prices, but is expected to increase gradually to 1.3% in 2024
Decisive action on property sector restructuring could boost confidence and investment
The IMF team visited China in October-November 2023 for annual consultations on the economy