According to the World Bank’s six-month economic forecast, China’s growth rate in 2025 will slow to 4.3%, compared with an expected 4.8% in 2024, Bloomberg writes .
“As a result, growth in the East Asia and Pacific region, which includes Indonesia , Australia and South Korea, will slow to 4.4% next year from about 4.8% this year,” the report said.
For three decades, China’s growth has been a boon to its neighbors, but that momentum is waning. Beijing’s recently announced fiscal stimulus may boost short-term growth, but the long-term pace of economic expansion will depend on deeper structural reforms, according to the World Bank.
Earlier, it became known that the Chinese authorities had stepped up measures to accelerate GDP growth. Beijing plans to stabilize the real estate market, limit the construction of new homes, and support the poor and unemployed. The sale of sovereign bonds should increase GDP by 0.2 percentage points.
Earlier, China suspended the purchase of one metal.