13:19 GMT23 June 2021
Listen Live
    Get short URL

    WASHINGTON (Sputnik) - China will retain a strong overall growth rate this year, but will slightly slow to 6.6 percent of Gross Domestic Product (GDP), compared with 6.9 percent in 2017, the International Monetary Fund (IMF) said in a press release.

    "Growth is projected to weaken slightly to 6.6 percent in 2018 owing to the lagged effect of financial regulatory tightening and the softening of external demand," the release said on Thursday. "The Chinese economy continues to perform strongly. GDP growth accelerated to 6.9 percent in 2017."

    The IMF explained that China’s headline inflation has remained contained at around 2 percent and is expected to rise gradually to 2.5 percent.

    "Reforms progressed in several key areas. A wide range of regulatory reforms reduced financial sector risks, overcapacity reduction progressed, anti-pollution efforts intensified and opening-up accelerated recently," the release said.

    READ MORE: Putin to Modi: Our Efforts Are Successful as Bilateral Trade Turnover Growing

    The IMF noted that credit growth slowed significantly, but remained strong. While the corporate debt to GDP ratio stabilized, total nonfinancial sector debt still rose faster than nominal GDP growth and the deficit of the government sector was estimated to be around 11 percent of GDP in 2017, the IMF said.


    Juncker Told Trump EU Would Help US Deal With 'China Problem' – Trump Adviser
    Chinese Company Makes Sex Dolls Controlled by Artificial Intelligence
    India Spends More of GDP on Defense Than China - Defense Minister
    Steve Bannon Believes US Should Befriend Russia to Isolate China
    GDP, International Monetary Fund, China
    Community standardsDiscussion