Wednesday, June 3, 2015   

IMF expects China's economy to grow 7.5pc in 2014
(07-31 11:18)

China's economy is expected to grow at about 7.5 percent this year with inflation kept below 3 percent, the International Monetary Fund said on Wednesday.
Despite slower investment and possible deeper adjustment in real estate activity, measures taken by authorities to support growth are "expected to bring it in line with the annual target of around 7.5 percent," the Washington-based institution said in its annual Article IV Consultation Staff Report for China.
"Consumption and the labor market are holding up well, and the global recovery is expected to support activity going forward. Inflation is forecast to remain below 3 percent," the report added.
Meanwhile, China's external imbalances have fallen, said the IMF, as the current account surplus declined to 1.9 percent of GDP last year.
Executive directors of the Fund agreed that China's growth prospects are threatened by declining efficiency of investment, a significant buildup of debt, income inequality and environmental costs.
"The challenge is to shift gears, reduce the vulnerabilities that have built up, and transit to a more sustainable growth path," said the report, adding that the implementation of China's Third-Plenum reforms will help China achieve more balanced and inclusive growth. --Xinhua   
Other Business breaking news:
ECB predicts higher inflation (25 mins ago)
Draghi insists on ‘strong’ deal with Athens (29 mins ago)
US trade gap narrows in April to US$40b (40 mins ago)
Creditors will dictate bailout deal, not Athens (57 mins ago)
ECB keeps benchmark rate at 0.05pc (1 hr 43 mins ago)
Airbus admits engine failures in crashed A400M (2 hrs 10 mins ago)
Shenzhen Airlines adds 46 Boeing 737 to fleet (2 hrs 13 mins ago)
Vanguard fund adds China equities to portfolio (06-03 17:09)
Hang Seng finishes higher, Shanghai dips (06-03 16:52)
OECD slashes 2015 world growth forecast to 3.1 percent (06-03 16:40)

More breaking news >>

© 2015 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2015, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.