World Bank Boosts China’s Growth Forecasts, Calls for Structural Reforms

BYD electric cars waiting to be loaded on a ship stacked at the international container terminal of Taicang Port at Suzhou Port, in China’s eastern Jiangsu Province. (Photo: AFP)

The World Bank has revised its growth outlook for China upward but warned that the country must implement bold structural reforms to address persistent economic vulnerabilities.

In its December 2024 China Economic Update, the World Bank forecasted GDP growth of 4.9% in 2024 and 4.5% in 2025, reflecting upward revisions of 0.1 and 0.4 percentage points, respectively. The adjustments are attributed to policy easing and near-term export strength.

  • Get a daily email packed with the latest China-Africa news and analysis.
  • Read exclusive insights on the key trends shaping China-Africa relations.
  • Full access to the News Feed that provides daily updates on Chinese engagement in Africa and throughout the Global South.

China, Africa and the Global South... find out what’s happening.

Subscribe today for unlimited access.

OR

Already a subscriber? Log in Click Here to Learn More
by Edwin Shri Bimo

Most Read

1
Developing Countries’ Debt Servicing Costs to China Are Significant, but Nowhere Near as Much as Other Creditors
2 Chinese Military Fans Discuss Why Indonesia Bought Rafale Instead of J-10C
3
Chinese Cargo Planes Secretly Ferrying Supplies to Iran, Claim Online Sleuths
4
Indonesia Goes Nuclear, Taps China and Russia for Modular Reactors
5 Trump’s Contradictory Iran Strategy Leaves U.S. Weaker After War’s End, Says Chinese Commentator
6
Thailand in Last-Minute U.S. Talks as 36% Tariff Looms

You Might Like

Chinese Companies Went on a Global Buying Spree in Q1 But Just Not in Africa

The London-based analytics firm GlobalData released a new report this week that highlights how Chinese companies are looking to buy distressed assets around the world as prices slump due to the ...

Amid Rising Fears Over Debt, Government Tries to Reassure Public That China Will Not Seize Assets

This year’s dramatic fall in oil prices combined with the federal government’s move to take on billions of dollars in new loans in the midst of an ongoing economic crisis is prompting widespread ...

Bloomberg: “Wave of Looming Defaults Poses the Biggest Test Ever for China’s Influence in [Africa]”

A new Bloomberg report projects a grim future for Africa’s economic stability as it becomes increasingly apparent that countries who borrowed heavily from China over the past decade are unlikely to be able ...

Dambisa Moyo: China Using Current Market Instability to Take Power Away From US, European Societies

China is using the current economic downturn “as an opportunity to take geopolitical power away from Western societies,” said international development economist and best-selling author Dambisa Moyo in an interview with the institutional ...

What is The China-Global South Project?

Independent

The China-Global South Project is passionately independent, non-partisan and does not advocate for any country, company or culture.

News

A carefully curated selection of the day’s most important China-Global South stories. Updated 24 hours a day by human editors. No bots, no algorithms.

Analysis

Diverse, often unconventional insights from scholars, analysts, journalists and a variety of stakeholders in the China-Global South discourse.

Networking

A unique professional network of China-Africa scholars, analysts, journalists and other practioners from around the world.

More about CGSP