AKIPRESS.COM - The World Bank forecasts China's economic growth rate at 4.5% in 2024.
According to the World Bank, ongoing tensions in China's real estate sector will restrain investment.
The World Bank expects weak growth in China's foreign trade as weak global demand puts pressure on exports and slowing domestic demand growth curbs imports, including metals. Growth is expected to decline further to 4.3% in 2025 as potential growth continues to slow down.
Rising debt is holding back investment; demographic factors and shrinking productivity gains are expected to hold back potential growth, the World Bank said.
At the end of 2023, the Chinese economy grew by 5.2%.