World Bank lifts China’s growth forecasts for this year, next

Reuters :

The World Bank lifted on Thursday its forecast for China’s economic growth this year and next but warned that subdued household and business confidence, along with headwinds in the property sector, would keep pressure, weighing it down in 2025.
The world’s second-biggest economy has struggled this year, mainly due to a property crisis and tepid domestic demand. An expected hike in U.S. tariffs on its goods when U.S. President-elect Donald Trump takes office in January may also hit growth.
“Addressing challenges in the property sector, strengthening social safety nets, and improving local government finances will be essential to unlocking a sustained recovery,” Mara Warwick, the World Bank’s country director for China, said.