Raised forecasts reflect positive prospects for China's economy

THE INTERNATIONAL MONETARY FUND raised its forecast for China'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 China. Late last month, the Organization for Economic Cooperation and Development also adjusted upwards its forecast for China'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 China's economic growth show their positivity toward the prospects for the world's second-largest economy.

Since 2008, China has contributed more than 30 percent on average to the world's economic growth each year. It is remarkable that China 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.