January 20, 2015 / 3:53 AM / 5 years ago

IMF welcomes slower growth as China rebalances economy

BEIJING (Reuters) - 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 percent in the fourth quarter, hovering near a six-year low not seen since the global financial crisis.

Reporting by Jake Spring; Editing by Jacqueline Wong

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