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China economic recovery faces 'high degree of uncertainty': IMF

Beijing must tackle property market crisis, roll out reforms to boost growth

The International Monetary Fund has lifted its forecast for China's economy to a 5.2% expansion this year (Source photos by Getty Images and Reuters)

SHANGHAI -- China's economic recovery is subject to a "high degree of uncertainty" and it must tackle a property market crisis, but rebounding consumer confidence will boost the hard-hit regional tourism market, the International Monetary Fund said Friday.

The assessment, laid out in the Washington-based organization's annual country report, comes after the IMF lifted its forecast for the world's No. 2 economy to 5.2% this year, up from an earlier 4.4% as consumption recovers following Beijing's move to abandon growth-sapping COVID curbs in December. China's economy expanded 3% in 2022, among its weakest growth rates in decades.

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