IMF raises GDP forecast for China

The IMF revised up its forecast of China's 2016 GDP growth by 0.1% to 6.6% on Tuesday, citing the country's "recent policy support", including interest rate cuts, fiscal expansion, and investment increases.

Analysts said China will keep open the option of rendering more policy support if downward growth pressure intensifies.

In its latest update to its World Economic Outlook released in April, the IMF said China's near-term outlook has improved since its "benchmark lending rates were cut five times in 2015, fiscal policy turned expansionary in the second half of the year, infrastructure spending picked up, and credit growth accelerated".