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The IMF lifted China's GDP growth forecast for 2010 to 10.5 percent, from the earlier projection of 10 percent. But the body also revised the country's GDP growth projection for 2011 down to 9.6 percent, 0.3 percentage points lower than the forecast released in April.
With the revised figures, China still ranks first in terms of GDP growth among all economies listed in the World Economic Outlook Projections, followed by India. The IMF attributed the upward revision to the country's strong rebound in exports, and resilient domestic demand.
The organization said that China could take further measures to slow credit growth and maintain financial stability, hence the lower growth estimate for 2011.
- IMF raises global GDP forecast 2010-07-09
- IMF raises China's 2010 GDP growth forecast to 10.5% 2010-07-08