China has potential to sustain strong growth in medium term: IMF

Source: Xinhua| 2017-06-14 19:08:43|Editor: An
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BEIJING, June 14 (Xinhua) -- China has the potential to "safely sustain strong growth" over the medium term as it continues to transition to a more sustainable growth path and advance reforms, a senior official with the International Monetary Fund (IMF) has said.

China's growth in 2017 has been forecast at 6.7 percent, the same as the previous year's actual rate and higher than the government target of about 6.5 percent, according to a statement issued Wednesday by David Lipton, first deputy managing director of the IMF, after the IMF annual Article IV review of the Chinese economy.

IMF staff, who visited Beijing and Lanzhou from June 1 to 14 to hold discussions on the annual review, also projected average annual growth of 6.4 percent for 2018-2020, the statement said.

The team also provided policy recommendations to China, including a faster switch from investment to consumption, increasing the role of market forces and implementing a more sustainable policy mix.