The Chinese economy has demonstrated remarkable resilience, said an official at the International Monetary Fund (IMF).
Despite domestic challenges and volatile external environment, the Chinese economy has demonstrated resilience, supported by both a global AI boom and proactive government policies, Thomas Helbling, deputy director of the IMF’s Asia and Pacific Department, told Xinhua.
Helbling made the remarks as the Executive Board of the IMF concluded the Article IV Consultation with China in mid-February and released a related report.
In 2025, the Chinese government acted swiftly to prevent liquidity and refinancing issues — especially among real estate developers and local governments — from escalating into broader problems, he noted.
The IMF official called for more efforts to stabilize the real estate market, particularly by facilitating the exit of non-viable developers and providing financing to complete unfinished housing or compensate buyers.
Helbling also called for stronger measures to boost private consumption, mainly by further strengthening the social safety net, which has been expanded in recent years, and advancing related reforms.
As renewed escalation of trade tensions poses downside risk, the IMF official lauded China’s emphasis on the importance of a stable, multilateral trading system.
“In general, it has contributed to the rhetoric trying to keep the conversation alive and not taken additional trade measures on its own,” he said.
He acknowledged the “discontent” surrounding the global trading system in recent years and urged countries to work jointly and constructively.
Speaking of China’s role in the global economy, the IMF official noted that China is growing faster than many other countries in the world. “China contributes more to global growth than its economic size — roughly 30 percent versus an economic size of nearly 20 percent,” he said.
As an open economy, China also contributes to global growth through trade and financial linkages, he said. As China grows, Chinese companies, including cutting-edge firms in frontier sectors, are expanding globally and “they’re also bringing knowledge to the rest of the world,” he said.
China helps other countries finance investment, he continued.
China also contributes to global economic well-being through channels including supporting the IMF, not least through the Poverty Reduction and Growth Trust (PRGT) and technical assistance, and engaging in multilateral debt restructuring efforts.
In these ways, China supports not only direct economic transactions but also the institutional framework for the global economy, he added.
