The International Monetary Fund has lifted its economic growth forecasts for China over the next two years on the back of improved expectations for external demand.
The IMF’s latest forecasts for China’s economic growth are 6.8% this year and 6.4% in 2019, according to its updated World Economic Outlook released on Monday.
Both of these forecasts mark an upwards revision of 0.1 percentage points compared to the previous figures released last October.
According to the IMF Chinese growth will ease over the long-term as Beijing dials back its fiscal stimulus levels, as well as curbs credit expansion as part of efforts to contain systemic financial risk.
China’s official GDP growth for 2017 was 6.9%, for an increase of 0.2 percentage points compared to the previous year and the first growth acceleration since the start of the decade.