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- Asian Development Bank upgrades growth forecast for China
Asian Development Bank upgrades growth forecast for China
The Asian Development Bank (ADB) upgraded growth forecast for China on Thursday. According to the ADB, China is expected to expand by 6.9% in 2015, up from the previous estimate of a 6.8% rise, and 6.7% in 2016, unchanged from the previous estimate.
The economic growth of developing Asia is expected to be 5.8% this year and 6% in 2016, both unchanged from the previous estimates.
Southeast Asia is expected to grow 4.4% in 2015 and 4.9% in 2016, both unchanged from the previous estimates.
"Although we have seen some softening in a number of economies, the broader regional outlook is for continued steady growth," ADB Chief Economist Shang-Jin Wei said.
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