IMF Forecasts That China'S Economy Will Grow By 10.5% And 9.6% Respectively This Year And Next.

International Monetary Fund (IMF)

The report said that in the light of more stringent restrictions on credit growth, the cooling of the real estate market and restrictions on bank exposure to the real estate industry, and the Chinese government's plan to implement exit strategies next year, China's economy will continue to grow in 2011, but the growth rate has slowed down.

The report said that 2/3 of China's short-term growth in the next two years will come from domestic private demand. Government activities will contribute 1/3, while the contribution from net exports will be close to zero.

According to the report, the medium term growth of China's economy depends on whether it can rebalance the driving force of growth, that is, more growth should come from home rather than external demand.

IMF suggests that in order to achieve long-term growth goals, China should reform the medical, educational and retirement systems to enhance the social security system.

The world economic outlook report is an important report of IMF on the analysis and prediction of the trend of the world economy. It is issued in two phases each year, usually in spring and autumn.