Significance of China’s Economic Recovery Addressed by International Monetary Fund Director

Kristalina Georgieva, managing director of the International Monetary Fund, said today Sunday at the China Development Forum in Beijing that China’s share of global economic growth will reach a third in 2023.

She added: “The strong recovery of the Chinese economy means it will account for about a third of global economic growth in 2023, giving a positive boost to the global economy.”

Kristalina Georgieva noted that, according to the IMF analysis, an increase in China’s GDP by one percentage point causes GDP growth in other Asian economies by 0.3 percentage points.

According to the plan for 2023, the Chinese authorities expect GDP growth of about 5%.

For her part, Chen Fengying, former director of the World Economic Center of the China Institute of Contemporary International Relations, said that the growth rate of the Chinese economy could reach 6%.

It is noteworthy that China’s GDP grew by 3% in 2022 compared to 2021.

Source: News

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