ADB, OECD raise China 2025 growth forecast

The Asian Development Bank (ADB) and the Organization for Economic Co-operation and Development (OECD) have raised their 2025 economic growth forecasts for China, both noting robust policy support and the resilience of the Chinese economy.

In its latest Asian Development Outlook released on Wednesday, the ADB raised its 2025 economic growth forecast for China by 0.1 percentage points to 4.8 percent, citing resilient exports and continued fiscal stimulus in the world's second-largest economy.

While keeping its global economic growth forecast stable at 3.2 percent, the OECD also revised China's GDP forecast for 2025 from 4.9 percent to 5 percent last week. This adjustment highlights the OECD's recognition of China as a key stabilizer for global economic growth.

The OECD noted that, China's fiscal policy has been expansionary with the introduction of a number of measures to support incomes and boost consumption, in addition to the trade-in program for cars and household appliances.

China will continue supporting South Africa's engagement in Group of 20 (G20) activities, Foreign Ministry spokesman Guo Jiakun said at a press briefing in Beijing on Friday.

Guo made the remarks in response to a media query about an announcement of the United States as the G20 presidency in 2026, in which it claimed that South Africa will not be invited to next year's G20 meetings.

"South Africa successfully hosted the G20 Johannesburg Summit last month, which was highly acclaimed by the international community. The G20 has long adhered to solidarity, cooperation, equality and consultation. As a founding member of the G20, South Africa has attended all the G20 summits and has long played an important role in the group. We support South Africa's continued participation in G20 cooperation and look forward to working with South Africa and other G20 members to contribute to upholding multilateralism, promoting world economic growth, and improving global economic governance," Guo said.