After "zero Covid".. How is the Chinese economy heading?

After China ended the strict “zero Covid” policy related to containment of the pandemic, expectations are optimistic about growth rate of the second largest economy in the world this year.

  The International Monetary Fund's forecast for the current year's growth rate rose to 5.2% from a previous forecast of 4.4%.

Chinese economy

In latest report in February, the International Monetary Fund predicted, the recovery of the Chinese economy during 2023, which would provide a boost to the global economy.

Great growth of the Chinese economy

According to Bloomberg, Chinese financial regulators, and China's largest bad debt management company, plan to provide up to 160 billion yuan ($24 billion) in refinancing support to real estate developers in the first quarter of this year.

Last January, Chinese President, Xi Jinping, said that his country's economy would grow by 4.4%, equivalent to $17.4 trillion, in 2022, a much larger number than expected many economists and international expert houses.

The People's Bank of China (the central bank) will direct 80 billion yuan ($11 billion) in loans, through China Company “Huarong Asset Management” To real estate developers, at an annual rate of 1.75%.

The largest real estate developer is paying off his debts

"Evergrande", one of the largest Chinese real estate companies, pledged this year to pay off its debts amounting to $300 billion, which caused the company to enter a dark tunnel and its shares collapse.

In a message to employees, the company's chairman, Huo Kayan, said that 2023 is an important year for the company, to fulfill its responsibility as a company, and to do everything possible to ensure the delivery of construction projects.