(Indo-Asian News Service)
China’s GDP continues to decelerate, with a growth forecast of 6.6 per cent for 2017, as it transitions from an export and investment based economy to one based on domestic consumption, the International Monetary Fund (IMF) said on Tuesday.
In its latest report on the Asia-Pacific, the IMF said that despite its own growth slowing amid economic transition, China continues to drive global growth, Efe news reported.
According to the IMF data, China’s GDP grew by 7.3 per cent in 2014, 6.9 per cent in 2015 and 6.7 per cent in 2016, while growth projections for 2017 and 2018 are 6.6 per cent and 6.2 per cent respectively. Click here to read more.