IMF forecasts increased growth for China
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E-mail China Daily, August 16, 2017
China is expected to see robust economic growth in the coming months, but needs to strengthen efforts to implement reforms to avoid risks piling up, the International Monetary Fund said on Tuesday.
The IMF raised its forecast for China's average annual growth for 2018-2020 to 6.4 percent from 6.0 percent, according to its annual review of China's economy. It maintained its forecast of 6.7 percent growth for this year.
China should continue implement reforms in order to avoid risks accumulated that may drag down the grow pace in the medium-to-long period, the IMF said.
Markus Rodlauer, deputy director of Asia and Pacific Department at the IMF praised China's commitment and efforts to deepen reforms, and urged China to broaden such efforts and rely more on market forces.
In order to see more sustainable growth, China needs to boost consumption as China’s savings rate is twice the global average, the report said.
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