IMF Upgrades China Growth Forecast But Warns of Financial Risks
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IMF upgrades China's GDP growth forecast to 5.4% in 2023 and 4.6% in 2024, citing stronger than expected Q3 growth and new policy support.
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Weakness in property sector and external demand remain risks to growth outlook.
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Recommends further policy easing to support property sector and address local government debt strains.
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Warns of elevated financial stability risks from high and rising debt levels.
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Projects gradual slowing of China's growth to 3.5% by 2028 due to weak productivity and aging population.