Chinese economy to lead global recovery: IMF official

2017-03-20
Xinhua

BEIJING — China will remain a strong engine of global recovery with its ongoing economic reforms, an official with the International Monetary Fund (IMF) said on March 18.

“Steering its economy to a sustainable path will benefit China itself and the world as a whole,” said IMF Deputy Managing Director Zhang Tao at the China Development Forum 2017 in Beijing.

The country and other emerging economies have contributed over 70 percent of global economic growth in recent years and will remain such a contributor, he said.

China’s 6.7 percent growth in 2016 hit a 26-year low, but still outpaced most other economies and accounted for more than 30 percent of global growth.

The IMF forecast the world’s economy would grow 3.4 percent in 2017 and 3.6 percent next year, with gathering momentum for recovery and rising challenges.

Resistance to economic integration and political uncertainties need to be addressed, Zhang said, calling for more inclusive and balanced global economic growth.