IMF cuts Chinese economic growth forecast

<p>The IMF has revised downwards its predictions for Chinese growth.</p>

China's economic growth forecast has been revised downwards by the International Monetary Fund (IMF).

The IMF announced it is now expecting the world's second largest economy to expand by 7.75 per cent in 2013, which is a drop from the eight per cent it previously predicted.

China's economy grew by 7.8 per cent last year, so if the IMF's latest figures are correct this would mean the rate of growth in the Asian nation is slowing down.

IMF first deputy managing director David Lipton told reporters in Beijing that growth in China is likely to be around the 7.75 per cent mark in both 2013 and 2014.

"Chinese export growth has been, after years and years of very rapid growth, very slow because of the state of the global economy and we now are taking our projections of the global economy into effect," he said.

During a visit to Berlin earlier this week, Chinese premier Li Keqiang confirmed Germany and China are in talks about forming an economic "dream team", with the Asian nation set to give German companies access to various sectors.

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