IMF lifts China’s economic growth target from 4.6% to 5% in 2024

Having upgraded China’s economic growth target from 4.6% to 5% in 2024, the International Monetary Fund (IMF) Deputy Managing Director lauded China’s effort to prop up its property market.

Key quotes

We see scope for a more comprehensive policy package to address property sector issues.

Central government resources should be deployed to help buyers of pre-sold unfinished homes.

Macroeconomic policies should support domestic demand and mitigate outside risks.

Policy should prioritise providing central government support to the real estate sector.

Welcomes monetary policy measures implemented in 2024 to date.