IMF highlights China's economic resilience, raises 2025 growth forecast

The International Monetary Fund (IMF) said on Wednesday it had raised its forecast for China's economic growth in 2025 to five percent, an upward revision of 0.2 percentage points from its October outlook.

IMF Managing Director Kristalina Georgieva made the remarks at a press conference held in Beijing, noting that the economy has demonstrated notable resilience despite facing multiple shocks.

"Despite sizable shocks, China's economy has shown remarkable resilience. We have upgraded our projections for China's growth to five percent in 2025. They reflect both strong exports and welcome fiscal stimulus. This resilient growth has supported household incomes. China is contributing about 30 percent to global growth," she said.

According to the press conference, an IMF team conducted constructive exchanges from December 1 to 10 in Beijing and Shanghai with senior Chinese government officials, representatives of private enterprises, and academics regarding China's economic outlook and policy responses, leading to the preliminary conclusion of raising China's growth forecast.

The IMF particularly recognized a combination of macro policies of the Chinese government aimed at expanding domestic demand and boosting consumption. It recommended further leveraging fiscal policy in the future to shift the growth model toward consumption‑driven expansion.

The IMF predicted that China will remain a crucial engine of global economic growth for many years to come.

According to Georgieva, measures such as shifting economic growth toward consumption‑driven expansion, further tapping the potential of the services sector, and promoting structural reforms with more proactive and stronger macro‑policies could add an estimated 2.5 percentage points to China's economic growth over the next five years through 2030. Such efforts would also contribute to healthier and more balanced development of the world economy.

IMF highlights China's economic resilience, raises 2025 growth forecast

IMF highlights China's economic resilience, raises 2025 growth forecast

The second phase of the urban ring greenway in Shijiazhuang City, north China's Hebei Province, was made fully accessible to the public on Wednesday, providing citizens with a new type of urban public space integrating cycling, jogging, and walking.

The greenway was completed after over two years of construction, which started in March 2023. It was carried out in two phases.

The first phase, spanning 51 kilometers, was completed in December 2023. The second phase, 50 kilometers long, saw the final gap successfully connected in the early hours of December 3, following the successful rotation of a swivel bridge spanning the Shijiazhuang-Taiyuan High-speed Railway. The Shijiazhuang ring greenway comprises 55.23 kilometers of pathways and 81 bridges measuring 45.77 kilometers.

Along the route, 18 service stations are planned, with 56 main entrances and exits established. It links the three major water systems, the Hutuo River, Taiping River, and the city's ring water system, and connects 76 parks and gardens along the way.

The cycling and walking paths are clearly separated by a rainbow-colored line, making it an excellent venue for citizens' leisure and fitness activities.

"It really provides us cycling enthusiasts with an excellent sports venue where we can enjoy the beautiful scenery of Shijiazhuang. Even though it's winter now, our enthusiasm for cycling on the ring greenway has not decreased but increased instead," said Zhao Zesong, a cycling enthusiast.

"During the ride, I also noticed there are many service stations, including facilities for bike repairs and rentals, which makes our daily cycling very convenient," said Zhang Luheng, another cycling enthusiast.

Urban ring greenway made fully accessible to public in north China's Shijiangzhuang