The International Monetary Fund on Wednesday raised China's growth projections but called for deep reforms.
The lender projected China to expand 6.7 percent in 2017, up from the previous forecast of 6.6 percent. The growth is forecast to average 6.4 percent during 2018-20.
The economy had expanded 6.9 percent in the first quarter, the fastest since the third quarter of 2015. The government targets slightly slower growth of about 6.5 percent this year.
The IMF said China should speed up reforms to transition its economy to more sustainable growth.
The lender recommended China to adopt reforms needed to secure medium-term stability and address the risk that the current trajectory of the economy could eventually lead to a sharp adjustment.
Policy recommendations of IMF staff include switching faster from investment to consumption; increasing the role of market forces; implementing a more sustainable macro policies mix, continuing the regulatory tightening; tackling nonfinancial sector debt; and further improving policy frameworks.
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