China’s economy may contribute quarter of global growth in 2023 – IMF

China’s economy will grow by 5.2 percent in 2023, 0.8 percentage point higher than October 2022 forecast, driven by a rebound in private consumption, International Monetary Fund (IMF) said on Tuesday.

The IMF has revised China’s growth outlook sharply higher, to 5.2 percent from a 4.4 percent forecast in October. Zero-COVID policies in 2022 slashed China’s growth rate to 3.0 percent, putting it below the global average for the first time in more than 40 years.