IMF keeps positive outlook on Chinese economy

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A senior economist from the International Monetary Fund says China's economy is keeping its momentum, despite both domestic and international uncertainties.

Il Houng Lee, a senior IMF representative to China, says the slowdown in China's economic growth during the second quarter is well within expectations, but the pace has still been strong.

On that basis, the IMF is keeping its forecast for China's 2010 economic growth unchanged at 10.5 percent.

Lee says growth will continue to slow down in the second half of this year, and the extent will depend on individual consumption, the property market and the government's steps in quitting stimulus policies.

But he says a double dip recession won't happen, and suggests China should hold a gradual stance in quitting stimulus measures, and control the pace of credit growth.