IMF says China's economy is showing signs of strong recovery

International Monetary Fund Managing Director Kristalina Georgieva said China was showing signs of a strong economic recovery. Speaking at the 2023 China Development Forum, Georgieva said the Chinese economy was seeing a strong recovery and the IMF in January pegged China’s GDP growth at 5.2 percent, a big increase of more than 2 percent from the 2022 rate. “This is important for both China and the world,” she said, adding that China would account for about a third of global growth in 2023. The IMF’s analysis also noted that a one percentage point increase in China’s GDP growth could lead to an average growth increase of 0.3 percentage points in other Asian economies. “With such a robust recovery, China can now gain positive momentum and remain on a growth path toward convergence with advanced economies through comprehensive policies,” Georgieva said.