IMF chief talks about the importance of China's economic recovery

China will account for about a third of global economic growth in 2023, International Monetary Fund (IMF) Managing Director Kristalina Georgieva said on Sunday, speaking at the China Development Forum in Beijing.

"The strong recovery of the Chinese economy means it will account for about a third of global economic growth in 2023, giving a positive boost to the global economy," financial publication Caixin quoted Georgieva as saying.

She also noted that, according to IMF analysis, a one percentage point increase in China's GDP leads to an average of 0.3 percentage points growth in other Asian economies.

According to the 2023 plan, the Chinese authorities forecast GDP growth of about 5 percent. At the same time, experts are more optimistic about the country's economic development, for example, Chen Fengying, former director of the Center for World Economy at the China Institute of Contemporary International Relations, told RIA Novosti that the Chinese economy's growth rate may well reach 6%. According to her, the current government did not want to give too high a figure and indicated 5% in the forecast because last year the predicted figures were not achieved.

China's GDP for 2022, amid multiple localised coronavirus outbreaks and an unstable international environment, grew by 3% compared to 2021, which was lower than the official forecast of around 5.5%. GDP stood at 121.02 trillion yuan ($17.95 trillion).