WASHINGTON, Feb. 7 (Xinhua) -- In an update to its World Economic Outlook report released late January, the International Monetary Fund (IMF) projected China's economy will grow by 5.2 percent in 2023, 0.8 percentage point higher than October 2022 forecast, driven by a rebound in private consumption.
An IMF official has highlighted three main sources that bolster China's economic resilience.
According to the latest update to the World Economic Outlook report, global growth is projected to fall from an estimated 3.4 percent in 2022 to 2.9 percent in 2023, then rise to 3.1 percent in 2024. The historical average growth rate between 2000 and 2019 is 3.8 percent.
Against this backdrop, Helbling said China's "stronger rebound will be felt."
Produced by Xinhua Global Service
