China's Growth Forecasts Revised Amid New Stimulus Measures

Beijing's latest fiscal interventions aim to boost economic growth but long-term challenges persist.

China's economy is projected to grow by 4.8% in 2024, falling short of the government's 5% target, according to a Reuters poll.
Goldman Sachs has upgraded its GDP growth forecast for China to 4.9% for 2024, citing recent stimulus measures announced by Beijing.
The Chinese government plans to increase public spending significantly, with 2.3 trillion yuan allocated for local government bonds in the fourth quarter.
Economists remain concerned about China's structural issues, including demographic challenges, debt deleveraging, and global supply chain changes.
Despite new policies, China's property market struggles and deflationary pressures continue to weigh on economic sentiment.