{"id":13686,"date":"2012-07-24T04:07:15","date_gmt":"2012-07-24T04:07:15","guid":{"rendered":""},"modified":"2012-07-24T04:07:15","modified_gmt":"2012-07-24T04:07:15","slug":"China-s-economy-to-rebound-in-second-half","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=13686","title":{"rendered":"China’s economy to rebound in second half"},"content":{"rendered":"

China’s economy will rebound in the second half of 2012 to achieve annual growth of eight percent as government policies to spur growth take effect, the International Monetary Fund said.<\/strong><\/p>\n

The Fund noted that Chinese authorities, whose views are included in the report, said they had been pursuing policies to achieve a more sustainable pace of economic growth.<\/strong><\/p>\n

China’s slowing economy has prompted authorities to slash interest rates and loosen requirements for the amount of reserves banks must maintain as ways to spur lending and boost activity.<\/p>\n

Growth in the world’s second-largest economy slowed to a more than three-year low of 7.6 percent in the second quarter, marking the sixth straight three-month period in which it had weakened.<\/p>\n

The Washington-based IMF said the projection, reached in consultation with Chinese authorities, was based on the premise that China maintains policies aimed at such a result.<\/p>\n

It cited the ongoing eurozone sovereign debt crisis as the biggest external risk facing China’s economy.<\/p>\n

Chinese leaders have repeatedly expressed concern over the weakening economy and vowed to take further measures.<\/p>\n

Premier Wen Jiabao has called stabilising growth the government’s top priority.<\/strong><\/p>\n

Source AP<\/em>
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