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IMF: China's Economy will Usher in a Strong Rebound in 2023, Echoes Chinese Government Growth Target

Apr 14, 2023 23:23CST

Source:SMM

At the second meeting of G20 finance ministers and central bank governors in Washington on April 12-13, work progress in areas such as financial architecture, developing sustainable finance, enhancing the resilience of the financial sector, promoting inclusive finance and international taxation was discussed.

At the second meeting of G20 finance ministers and central bank governors in Washington on April 12-13, work progress in areas such as financial architecture, developing sustainable finance, enhancing the resilience of the financial sector, promoting inclusive finance and international taxation was discussed.

Yi Gang, Governor of the People's Bank of China said at the meeting that China's economy is stabilising and recovering, inflation remains low, and the real estate market has undergone positive changes. He expected that the GDP growth rate will reach about 5% this year.

Thomas Helbling, deputy director of the Asia Pacific Department of the IMF, said that the Chinese economy will usher in a strong rebound in 2023. The Chinese government's economic growth target of around 5% is in line with the forecast given by IMF. And this goal is achievable.

At the same time, he also affirmed China's active role in promoting the implementation of a series of regional economic cooperation initiatives such as the Regional Comprehensive Economic Partnership.