IMF cuts China growth outlook, urges cap on social financing

The International Monetary Fund cut its growth forecast for China this year to 7.75 per cent from 8 per cent, citing a weak world economy and exports, adding to concerns that the world’s second-largest economy is losing momentum.

The IMF move follows a series of lowered this year growth estimates for China by private economists after soft factory output and investment performance data for April and weak factory activity in May.

via Business feed http://www.scmp.com/business/economy/article/1248902/imf-cuts-china-growth-outlook-urges-cap-social-financing