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IMF urges China for pro-market reforms to stimulate growth
Posted on April 1, 2024 |
The International Monetary Fund advises China to implement pro-market reforms to tackle economic sluggishness and housing market challenges.
Chinese authorities prioritize "high-quality" growth instead of relying on extensive government stimulus measures.
A Bulgarian economist highlights the difficulty of the transformation but suggests that China could experience faster growth with comprehensive pro-market reforms.
Beijing is urged to take decisive actions to address unfinished housing projects and reduce debt in the real estate sector.
China's GDP growth rates have been declining, with an annual target set at approximately 5%.