(Yicai Global) April 10 -- The International Monetary Fund has lifted its economic growth forecast for China to 6.3 percent from 6.2 percent.
The IMF revised China's gross domestic product growth estimate in its latest World Economic Outlook report. The document projected a 6.1 percent growth rate for China in 2020, down 0.1 percentage point from the previous estimation.
The upward revision shows the effects of the recent progress in the US-China trade talks, China's stronger-than-expected fiscal and monetary stimulus, and a slowing global economy, according to Changyong Rhee, director of the IMF's Asia and Pacific department.
The IMF lowered its global economic growth forecast for 2019 to 3.3 percent, down 0.2 percentage point from its previous estimate in January, due to uncertainties in the world economy, as well as trade tensions. GDP growth around the world will contract to 3.6 percent in 2020, according to the multilateral organization.
The projected slowdown in 2019 reflects negative revisions for several major economies including the euro area, Latin America, the US, Canada, the UK and Australia, chief economist Gita Gopinath said in the report.
Editor: Emmi Laine