The International Monetary Fund (IMF) on Wednesday raised
China's economic growth forecast for 2007 to 11.2 percent, up 1.2
percentage points from its forecast in April.
The growth in China for 2008 is expected to 10.5 percent, 1.0
point higher from the earlier forecast, the IMF said in a revision
of its World Economic Outlook.
"For some time China has been the largest contributor to global
growth measured in purchasing power parity," Charles Collyns, the
IMF deputy director of research, said at a news conference.
"With the growth slowdown in the United States, China will be
contributing the largest part to the increase in the global growth
measured at market exchange rates as well as purchasing parity
terms," he noted.
He said China has accounted for one quarter of the annual growth
rate of the world economy, adding that China, together with India
and Russia, would provide half the growth.
The IMF official said that China would represent 15 percent of
the global economy on purchasing power parity terms, while on
market-exchange rate terms, China only accounts for five percent of
the global economy.
(Xinhua News Agency July 26 2005)
