The International Monetary Fund has upgraded its forecast for China’s economy, while warning that consumer-friendly reforms are needed to sustain strong, high-quality growth.
The IMF said its upgraded forecast also reflects recent moves to boost growth, including fresh help for the property industry such as lower interest rates and smaller down-payment requirements on home loans.But it added that “a more comprehensive and balanced policy approach would help China navigate the headwinds facing the economy." Job losses, especially during the pandemic, and falling housing prices have hit the finances of many Chinese.
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