IMF Deputy Managing Director sees scope for more policy to address China property sector

IMF Deputy Managing Director Gita Gopinath speaking from Beijing:

• We see scope for a more comprehensive policy package to address property sector issues
• Central government resources should be deployed to help buyers of pre-sold unfinished homes
• Macroeconomic policies should support domestic demand and mitigate outside risks
• Policy should prioritise providing central government support to the real estate sector
• Welcomes monetary policy measures implemented in 2024 to date

Earlier:

• The IMF has upgraded China's economic growth target to 5%, from 4.6%