国内英语资讯:Spotlight: IMF raises China 2017 growth forecast due to its progress in economic reform_时事

国内英语资讯:Spotlight: IMF raises China 2017 growth forecast due to its progress in economic reform

Analysts said such structural reforms could help the country to maintain a more sustainable economic growth in the long run.

Paul Sheard, executive vice president and chief economist of S&P Global, told Xinhua in a recent interview that China's credit-fueled infrastructure and residential housing investment in the past decade led to a build-up of debt and credit in the economy, which is why economic reforms are critical.

China has adopted a range of measures to manage debt risks and push forward reform in recent years, including introducing a new high-level committee on financial stability and development in July.

Stephen Roach, a senior fellow at Yale University and former chairman of Morgan Stanley Asia, lauded Chinese government's determination to reduce financial risks.

"China's central bank, the China Banking Regulatory Commission, and the State Council have all taken explicit actions in 2017 to reduce the expansion of debt -- especially the mounting indebtedness of state-owned enterprises," said Roach in a recent interview with Xinhua.

"These efforts now seem to be having a positive impact...As long as China continues to emphasize financial stability - and takes actions aimed at promoting it - the threat to growth and development should not be serious," the expert added.

Sheard said it's important that institutional and market-enhancing reforms that create the right incentives for capital to be allocated efficiently continue to be implemented.