On Tuesday, October 9, the International Monetary Fund (IMF) issued its latest world economic outlook report, cutting its Chinese economic growth forecast for this year and next year respectively to 7.8 percent and 8.2 percent.
Predicting that the Chinese economy would rebound in the second half of this year as pro-growth policies took effect, in July this year the IMF had estimated the country’s economy would grow by 8 percent in 2012 and 8.5 percent in 2013.