China’s economy is forecast to slow sharply in 2024, the World Bank says, calling recovery ‘fragile’

China’s economy will slow next year, with annual growth falling to 4.5% from 5.2% this year despite a recent recovery spurred by investments in factories and construction and in demand for services, the World Bank said in a report issued Thursday. The report said the recovery of the world’s second-largest economy from setbacks of the COVID-19 pandemic, among other shocks, remains “fragile,” dogged by weakness in the property sector and in global demand for China’s exports, high debt levels and wavering consumer confidence. Growth is expected to slow further in 2025, to 4.3% from 4.5% next year, the World Bank said.