The International Monetary Fund (IMF) said on Wednesday that the economic growth in China is projected to slow to about 6.5 percent this year, half the 13 percent growth rate recorded pre-crisis in 2007 but still a strong performance given the global context.
Two factors are helping sustain the momentum of China's economy "despite the collapse in exports," said the IMF in its latest World Economic Outlook report.
"First, the export sector is a smaller share of the economy, particularly after factoring in its high import content," said the IMF. "Second, the government has acted aggressively to provide major fiscal stimulus and monetary easing, which are helping boost consumption and infrastructure investment."
Source: Xinhua
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