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China to post lowest GDP growth in four decades this year: IMF_我的网站

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    Illustration:Xia Qing/GT
As agreed between the two sides, Member of the Political Bureau of the CPC Central Committee, Director of the Office of the Central Commission for Foreign Affairs, and China's Special Representative on the Boundary Question Between China and India Wang Yi will co-chair the 25th Round of Talks Between the Special Representatives on the Boundary Question with India's Special Representative and National Security Advisor Ajit Doval in Beijing on August 25, a spokesperson from China's Foreign Ministry announces on Monday.
。    Washington, Oct 11 (UNI) The Chinese economy will post the lowest GDP growth in four decades in the current year, barring performance during the initial COVID-19 crisis in 2020, the International Monetary Fund (IMF) said on Tuesday.

"The revisions reflect the downgrade for growth in China, to 3.2 percent in 2022 (the lowest growth in more than four decades, excluding the initial COVID-19 crisis in 2020). COVID-19 outbreaks and lockdowns in multiple localities, as well as the worsening property market crisis, have held back economic activity in China, " the IMF said in its World Economic Outlook.

However, China’s growth is expected to rise to 4.4 percent in 2023, the report added.

COVID-19-related lockdowns have taken a significant toll on China’s economy, particularly in the second quarter of 2022, according to the reports. Particularly, the property sector, which represents the fifth part of the nation’s economy is rapidly weakening, it added.

"A worsening of China’s property sector crisis could spill over to the domestic banking sector and weigh heavily on the country’s growth, with negative cross-border effects," the IMF said.

UNI/SPUTNIK GNK。

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