Markets are down in China, but not by as much as people had hoped.
The S&P 500 index was down 1.7% on the day, while the Shanghai Composite Index dropped 3.5%.
The Shanghai Composite index is up 2.2% this year, and has been up around 15% in the past year.
Analysts expect that the S&s Dow Jones Industrial Average will move above the 30,000 level, which is considered a key milestone in the market.
The index is currently trading around 30,853.
The index is also up 2% in Hong Kong, where it’s up about 10% in 2016.
In Australia, the ASX 200 index was up 3.4%, while the ASXX 200 index has been down more than 5% this past year, according to Thomson Reuters.
The global market has also been down in 2016, but was boosted by strong economic data.
The International Monetary Fund (IMF) has been projecting a rise in global GDP to about 1.3% this month, which would be the highest in nearly a decade.
China’s economy is expected to grow by 1.9% this quarter, which will be the biggest annual increase in over a decade, the IMF said.
That would be well below the 1.8% growth of the third quarter of 2015.
Ahead of the meeting, Chinese state broadcaster CCTV said that China’s GDP is set to expand by 2.1% this coming quarter, the fastest growth since 2010.
Analytically, China’s economy has been suffering from slowing growth, but the government has been pushing ahead with reforms to boost the economy.
China is now expected to account for more than a fifth of global economic activity, according the World Bank.