China’s Economic Growth Prospects Upgraded by World Bank Amid Global Uncertainty

The World Bank has revised upward its economic growth forecast for China, the world’s second-largest economy. Initially projected to grow by 4.8 per cent this year, up from the previous 4 per cent estimate in April, this adjustment aligns China with its official target of around 5 per cent. China’s economy had expanded by 5 per cent last year, boosted by robust exports, stimulus measures, and investments in high-tech industries, contributing to this positive outlook. Despite the positive revisions, the World Bank anticipates a slowdown with growth expected to decline to 4.2 per cent next year, citing reduced export growth…