IMF projects China’s economic growth to reach 5.2% in 2023

Stitched photo taken on June 21, 2018 shows scenery of the Lujiazui area in Pudong of Shanghai, east China.(YIN GANG / XINHUA)

WASHINGTON – The International Monetary Fund on Monday projected China's economy will grow by 5.2 percent in 2023, 0.8 percentage points higher than October 2022 forecast, according to a newly released update to its World Economic Outlook report.

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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 update showed.