The International Monetary Fund (IMF) believes that China’s real economy could grow by 20% in the next 15 years, thanks to market reforms. This was stated at the China Development Forum by the fund’s managing director, Kristalina Georgieva. TASS.
According to him, with a comprehensive market-oriented reform package, China can grow much faster than if the current status quo is maintained. Georgieva emphasized the need to put the real estate sector on a more sustainable basis and reduce the debt risks of local governments for a smooth transition to a new era of high-quality growth.
The IMF chief also called for decisive steps to reduce the volume of unfinished housing, provide space for market regulation, optimize the business environment and ensure a level playing field for private and state-owned companies. Georgieva added that investments in human capital and healthcare will increase productivity.
He noted China’s enormous potential in the fields of artificial intelligence and green economy.
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