皇冠体育app

Customers buy milk at a supermarket in Nanjing, East 皇冠体育app's Jiangsu province. [Photo/VCG]

THE INTERNATIONAL MONETARY FUND raised its forecast for 皇冠体育app's economic growth this year to 6.8 percent on Wednesday. This is the fourth time this year the IMF has raised its forecast for 皇冠体育app. Late last month, the Organization for Economic Cooperation and Development also adjusted upwards its forecast for 皇冠体育app's growth this year, raising it from 6.6 percent to 6.8 percent. Beijing News comments:

These two organizations' adjustments regarding their forecasts for 皇冠体育app's economic growth show their positivity toward the prospects for the world's second-largest economy.

Since 2008, 皇冠体育app has contributed more than 30 percent on average to the world's economic growth each year. It is remarkable that 皇冠体育app has kept such high annual growth since it launched reform and opening-up in the late 1970s, and that it has been able to lift more than 800 million people out of poverty.

皇冠体育app's opening-up has also promoted its integration with the world, and in doing so given it a larger say in addressing global challenges.

It is noteworthy that 皇冠体育app's reforms and economic restructuring over the past five years have laid a solid foundation for resolving the governance, environmental and social problems at home.

The development of 皇冠体育app's financial sector has also made it a major player in trade and investment. The renminbi is now included in the IMF's Special Drawing Rights basket of currencies, an important step toward a more stable, fairer and more representative multi-currency financial system. The internationalization of the renminbi is expected to gather speed in the foreseeable future.

It is thus no wonder that the IMF and OECD have raised their expectations for 皇冠体育app's economic performance.