IMF welcomes slower growth as China rebalances economy

[BEIJING] The slowdown in China's economy reflects a welcomed decision by the Chinese government to re-balance the world's second-largest economy, the chief economist of the International Monetary Fund (IMF) said on Tuesday.

Olivier Blanchard, the IMF's chief economist, made the remarks at a news conference after the fund released its world economic outlook.

Blanchard's comments followed data from China that showed the Chinese economy grew 7.3 per cent in the fourth quarter, hovering near a six-year low not seen since the global financial crisis.

REUTERS