Goldman Sachs Group Inc. upgraded its forecasts for China’s economic growth in 2024 and 2025 after Beijing unveiled a series of measures to shore up growth, including plans for greater public spending announced over the weekend.

Goldman Sachs raised China's gross domestic product forecast to 4.9% from 4.7% for 2024, according to a research note, citing the government's latest round of stimulus measures.

Goldman Sachs Group upgraded its forecasts for China’s economic growth in 2024 and 2025 after Beijing The bank expects China’s gross domestic product to expand 4.9 per cent this year, up from 4.7 per cent previously.