The International Monetary Fund with its latest on China
Growth expected at 6.6% this year. This is an unchanged forecast from the Fund, their previous was in May, also at 6.6%
- IMF said China's headline inflation is expected to rise gradually to around 2.5%, producer price inflation would moderate.
IMF praised China's progress on reducing financial sector risks
- and in further opening its economy
But said credit growth was still unsustainably high
- Some aspects of the country's rebalancing had slowed
More:
- China needs to stick to its deleveraging agenda
- need to continue implementing fiscal reforms and economic rebalancing
- "China's near-term outlook remains robust due to strong domestic momentum, recovering global trade, and significant reform progress"
- But the IMF cited widespread state intervention, a still relatively closed economy, and a slowdown in rebalancing towards consumption last year as challenges, and reiterated its long-standing call for China to de-emphasise growth targets.
via Reuters
