Even with stimulus measures, China's growth will slow next year, weighing on its neighbors' growth prospects, the World Bank said.

China's economic growth rate is expected to decline further in 2025 despite a temporary boost from a raft of recent stimulus measures, the World Bank says.

China said on Tuesday it was "fully confident" of hitting its growth target this year but held off more stimulus, disappointing markets and fuelling concern about a lack of detail on a raft of measures unveiled last month.

Chinese stocks were strong today, up more than 10%, but quickly fizzled as investors and traders questioned where the Chinese economy is going. NBC News' Janis Mackey Frayer reports from Beijing on the outlook for one of the strongest economies in the world.

China has set aside 200 billion yuan ($28 billion) for investment projects by local governments this year, as it promised to meet its own ambitious economic growth targets.

China said on Tuesday it was 'fully confident' of achieving its full-year growth target but refrained from introducing stronger fiscal steps, disappointing investors who had banked on more support from policymakers to get the economy back on track.