Chinese economy performs well, with reforms progressing in key sectors: IMF


The Chinese economy is performing well and reforms in several key sectors are making good progress, a senior IMF official said here Wednesday. “China’s financial sector de-risking accelerated with a wide range of decisive measures adopted; credit growth slowed; overcapacity reduction progressed; anti-pollution efforts intensified; and opening up continued,” according to a statement issued by James Daniel, assistant director of the Asia and Pacific Department of the International Monetary Fund (IMF), after the IMF annual Article IV review of the Chinese economy.
An IMF team, led by James Daniel, visited Beijing and Shenzhen from May 17 to 30, to hold discussions on the annual review, and projected China’s economic growth of 6.6 percent for 2018, which will moderate gradually to 5.5 percent by 2023. According to Daniel, the IMF welcomed China’s strategy of decisively shifting from high-speed to high-quality growth.—Xinhua

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