IMF: China's economy to grow 6.8% this year
中国今年经济增长率将达6.8%

The International Monetary Fund predicts that the Chinese economy will grow at about 6.8 percent this year, largely in line with the Chinese government's growth target of around 7 percent. The IMF's first deputy managing director -- David Lipton -- said Tuesday that China is transitioning to a new normal and its currency is no longer undervalued.

"We see that as resulting from process of where the economy is slowing somewhere. The government is allowing some of the vulnerabilities. We think 6.8 percent is consist with the government's idea that growth is around 7%. We think it is appropriate," said David Lipton, first deputy managing director of IMF.

Lipton said there is some risk though. He said with the normalization of the monetary policy of the United States, the capital flow may reverse. And China and other countries should be very aware of that. But Lipton concluded that in general, China's economy is still running well. He attributed this to appropriate policies, which allow the government to work out some of the vulnerabilities and slow down the rapid growth of credit. China's growth for next year has been predicted at 6.25 percent.