China economy to rebound in second half: IMF

AFP, 25 July 2012

China’s economy will rebound in the second half of 2012 to achieve annual growth of eight per cent as government policies to spur growth take effect, the International Monetary Fund said Wednesday.
‘Growth is expected to bottom out in the second quarter, and then accelerate in the second half of the year,’ the IMF said in an annual report on China’s economy, predicting China’s economy would expand by 8.5 per cent in 2013.
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.
‘This managed slowdown, however, has run into stronger-than-anticipated headwinds from the worsening of the euro area crisis,’ the IMF said.
‘Measures to support growth are now being given more prominence and the authorities are confident that growth will be at least 7.5 per cent this year.’