The World Bank raised its economic growth forecast for China in 2024 and 2025. Still, it cautioned that low household and business confidence and challenges in the property sector would continue to weigh on growth.

China’s economy has faced challenges this year due to a property crisis and weak domestic demand, with potential U.S. tariff hikes adding pressure on growth.

The World Bank raised its GDP growth forecast for China to 4.9% in 2024, up from 4.8%, due to policy easing and strong exports.

The 2025 GDP growth forecast was also raised to 4.5%, higher than the previous estimate of 4.1%.

Slower household income growth and lower home prices will impact consumption through 2025.

To stimulate growth, China plans to issue 3 trillion yuan ($411 billion) in special treasury bonds in 2025.

A recovery in the property sector is not expected until late 2025.

Despite a growing middle class, around 55% of China’s population remains economically insecure, highlighting the need for more opportunities.

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