The World Bank raised on Thursday its forecast for China's economic growth in 2024 and 2025, but warned that subdued household and business confidence, along with headwinds in the property sector, would keep weighing it down next year.

China says its economy grew a bit more in 2023 than earlier thought, according to an economic census conducted every five years.

China revised upwards on Thursday the size of its economy by 2.7%, but said the change would have little impact on growth this year, as policymakers pledged more stimulus to spur expansion in 2025.

China revised upwards its 2023 gross domestic product (GDP) by 2.7 percent to 129.4 trillion yuan (US$17.73 trillion), a top statistics official said on Thursday, while the World Bank raised its forecast for China's economic growth in 2024 and 2025.