According to Jinshi Data on August 2, the International Monetary Fund (IMF) released a report saying that China's annual economic growth rate is expected to be 5% in 2024 and 4.5% in 2025, both of which are 0.4 percentage points higher than the forecast in April this year.

The IMF believes that since 2020, China has promoted deleveraging in the real estate industry and guided real estate companies to adapt to the gradually declining housing market demand. These measures are very necessary for the real estate industry to achieve sustainable development and should continue to be implemented.

The IMF pointed out that the central bank's loose monetary policies such as interest rate cuts and reductions in the reserve requirement ratio since 2024 are worthy of recognition. In the current situation of low inflation and continued negative output gap, further moderate interest rate cuts will help support the recovery of private sector investment and consumption.