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In 2023, China's economic growth rate will remain leading among the world's major economies, contributing 32% to global economic growth, and it will remain the largest engine of global growth. As China's economic growth exceeded expectations, the International Monetary Fund (IMF) recently raised the growth forecast of China's economy and emerging Asian economies in 2024, Goldman Sachs, UBS and other international financial institutions are optimistic about China's economic development prospects, China's economic competitive advantage still exists, and China will continue to be a major contributor to global economic growth this year.
The International Monetary Organization said in its latest World Economic Outlook report that the International Monetary Organization raised its global economic growth forecast for this year by 02 percentage points to 31%。Emerging Asia's emerging economies as a whole are expected to grow by 5.5 percent this year2%, an increase of 04 percentage points. The International Monetary Organization expects China's economy to grow by 46%, an increase of 04 percentage points.
Goldman Sachs, UBS and other international financial institutions have also recently released reports pointing out that China's consumer and service industries will continue the post-epidemic recovery trend in 2024. The Economist Intelligence Unit (EIU) and others predict that China's economic fundamentals will be more solid in 2024. The Center for Strategic and International Studies and other institutions believe that China's exports of electric vehicle batteries, electronic products, minerals and other industries are strong, and many industries are leading in global competitiveness.
Hayden Briscoe, Head of Asset Management, Hong Kong, UBS: We recently raised our profile for China's gross domestic product (GDP). We believe that China's economic recovery will be a long-term process, and strong growth will have far-reaching implications. Therefore, looking ahead to 2024, we are very bullish on China's GDP.
In addition to full confidence in China's economy, a number of surveys by the American Chamber of Commerce in China, the European Union Chamber of Commerce, and the German Chamber of Commerce show that 50% of the surveyed American companies list China as the world's first choice or top three investment destinations, 59% of the EU companies surveyed regard China as one of the three main investment destinations, 91% of the surveyed German companies said that they will continue to take root in the Chinese market, and more than half of the surveyed German companies plan to increase their investment in China in the next two years.
Recently, the heads of international institutions and multinational companies such as the Japanese business delegation to China, the Executive Director of the World Bank, the Danone Group of France, the Amway Group of the United States, and the BMW Group of Germany have visited China one after another, optimistic about the Chinese market and deepening practical cooperation.
Spokesperson Wang Wenbin: Recently, the International Monetary Organization raised China's economic growth forecast for 2024 and raised the global economic growth rate for 2024 to 31%, believing that the accelerated recovery of China's economy will become an important boost for the development of the world economy. China has always opened its arms and sincerely welcomes enterprises from all over the world to invest in China, and will continue to create a first-class business environment that is market-oriented, law-based and international. We will share with the world the new opportunities brought about by Chinese modernization and promote common development.
In 2023, China's economic growth rate will remain leading among the world's major economies, contributing 32% to global economic growth3 percentage points. China's economic growth will remain higher than the global average in 2024, and China will remain a major contributor to global economic growth in 2024.