China Economic Outlook: Latest Data and Expert Forecasts

Key Findings from the World Economic Forum's Chief Economists Outlook

The World Economic Forum's survey of top economists worldwide projects continued growth for China.

Economic Forecasts for 2024

The Economist Intelligence Unit (EIU)

The EIU predicts conservative growth of 4.7% for China in 2024, citing the strong post-recovery in household consumption in 2023.

International Monetary Fund (IMF)

The IMF forecasts growth of approximately 5% in 2024, supported by government support following the end of the zero-COVID-19 policy.

Recent Economic Data

GDP Growth in 2023

China's GDP grew by 5.2% in 2023, exceeding the government target.

Q4 2023 GDP Growth

GDP grew by 5.3% in the fourth quarter of 2023, driven by robust industrial production, manufacturing investment, and exports.

Key Factors Influencing Economic Growth

• Government support
• End of zero-COVID-19 policy
• Robust industrial production
• Manufacturing investment
• Exports

Expert Analysis

"We expect China's economy to continue to recover in 2024, albeit at a slower pace than in 2023," said Dr. Alicia Garcia Herrero, Chief Economist for Asia Pacific at Natixis.

"The end of the zero-COVID-19 policy and the government's stimulus measures are expected to boost domestic demand and economic activity," added Dr. Eswar Prasad, Professor of Economics at Cornell University.

Conclusion

China's economy is expected to continue to grow in 2024, supported by government policies and a recovery in domestic demand. However, uncertainties remain, including geopolitical risks and the ongoing impact of COVID-19.