IMF: China can maintain annual growth of about 7.5%

The International Monetary Fund forecast Thursday that China's economy will grow 7.5% this year, in line with the government's target.

The forecast came after a two-week IMF mission in China that included discussions with senior government officials and business representatives.

IMF deputy managing director David Lipton affirmed that China can achieve its growth target, and said that additional stimulus should only be deployed if expansion slows significantly below the target. The IMF says, too, that reforms are critical for China's economic development.

The organization also suggested that China lower next year's growth target to 7% to help deal with sustainable development.