IMF upgrades China’s growth forecast to 5% on ‘strong’ first quarter and policy measures

• The International Monetary Fund raised its forecast Wednesday for China’s growth this year to 5%, from 4.6% previously, due to “strong” first quarter figures and recent policy measures.
• China’s economy grew by a better-than-expected 5.3% in the first quarter, supported by strong exports. 
• Recent real estate policy moves are “welcome,” but more comprehensive action is needed, Gita Gopinath, the IMF’s first deputy managing director, said in a statement.
• https://www.cnbc.com/2024/05/29/imf-raises-chinas-growth-forecast-on-strong-q1-and-policy-measures.html