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IMF: China's 8% growth challenging but possible

(Xinhua)
Updated: 2009-02-03 11:48

China's economy might achieve the 8 percent growth rate this year but it was challenging, said International Monetary Fund (IMF)'s Managing Director Dominique Strauss-Kahn on Monday.

Related readings:  Crisis may increase China's role in IMF  IMF cuts 2009 world growth forecast to 0.5%  IMF expected to play greater role in resolving woes

"The growth in China is tremendous important for the world economy." Strauss-Kahn said. "We expect 6.7 percent growth this year (for China), 8 percent will be very challenging but is possible."

"China has showed in the past that it sometimes were able to do much more than expected," said the IMF chief, who will visit Asia late this week.

He also told reporters that China has more room for fiscal stimulus beyond the 4 trillion yuan ($586 billion) fiscal package launched last year, adding China and some other Asian economies might "recover very fast."

"A rapid recovery is possible," Strauss-Kahn said. "Some Asian economies are very good candidates to be the leading economies when things get going."