The International Monetary Fund said China is projected to grow by 6.3 percent this year, higher than the previous forecast of 6.2 percent.
The International Monetary Fund upgraded its 2019 growth forecast for China, citing Beijing's effort to support the economy and improved outlook for the Asian giant's tariff fight with the U.S.
"China has ramped up its fiscal and monetary stimulus to counter the negative effect of trade tariffs. Furthermore, the outlook for US-China trade tensions has improved as the prospects of a trade agreement take shape," Gita Gopinath, IMF's economic counselor, wrote in the report. China and the U.S. have been engaged in a trade war since last year. The world's two largest economies have put on hold further increases in tariffs while they negotiate a trade deal. Separately, the U.S. has renegotiated a trade deal with its North American neighbors Canada and Mexico, and Asian ally South Korea. Washington is also seeking to reassess its trading relations with the European Union and Japan.
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