IMF: China economy on path for soft landing

%3CP%3E%3CFONT%20face%3DVerdana%3EChina%20is%20well%20placed%20to%20respond%20to%20possible%20deterioration%20of%20external%20environment%20and%20its%20economy%20may%20be%20undergoing%20a%20soft%20landing%20despite%20growing%20global%20headwinds%2C%20the%20International%20Monetary%20Fund%20said%20in%20a%20report%20on%20Tuesday.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%22The%20economy%20has%20been%20slowing%20partly%20as%20a%20result%20of%20policy%20action%20to%20moderate%20growth%20to%20a%20more%20sustainable%20pace%2C%20but%20a%20worsening%20of%20the%20euro%20area%20crisis%20poses%20a%20key%20risk%20to%20the%20outlook%2C%22%20the%20Washington-based%20institution%20said%20in%20its%20annual%20Article%20IV%20Consultation%20Staff%20Report%20for%20China.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20IMF%20estimated%20China%27s%20economic%20growth%20would%20moderate%20to%20about%208%20percent%20this%20year%20and%20then%20rise%20slightly%20to%208.5%20percent%20in%202013.%20Without%20further%20shocks%20to%20agricultural%20supply%2C%20China%27s%20inflation%20is%20expected%20to%20stay%20in%20the%203-3.5%20percent%20range%20this%20year%20and%20fall%20to%202.5-3%20percent%20in%202013.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20IMF%20said%20China%27s%20macroeconomic%20policies%20are%20geared%20to%20slowing%20growth%20to%20a%20more%20sustainable%20pace%2C%20and%20continue%20to%20be%20adjusted%20in%20line%20with%20evolving%20conditions.%20It%20considered%20China%27s%20current%20fiscal%20stance%20as%20%22appropriate%22%20and%20monetary%20policy%20%22consistent%22%20with%20the%20authorities%27%20economic%20objectives.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EExecutive%20directors%20of%20the%20Fund%20agreed%20that%20the%20key%20challenges%20for%20China%27s%20policymakers%20in%20the%20period%20ahead%20will%20be%20to%20achieve%20a%20soft%20landing%20for%20the%20economy%20while%20pushing%20ahead%20with%20reforms%20for%20a%20more%20balanced%20and%20sustainable%20expansion.%20%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3EThe%20IMF%20said%20policies%20should%20continue%20to%20be%20geared%20toward%20achieving%20this%20year%27s%20growth%20targets.%20In%20the%20event%20of%20a%20worsening%20of%20the%20external%20outlook%2C%20China%20has%20ample%20room%20to%20respond%20forcefully%2C%20using%20fiscal%20policy%20as%20the%20main%20line%20of%20defense%20and%20with%20emphasis%20on%20measures%20that%20support%20China%27s%20medium-term%20reform%20objectives.%3C/FONT%3E%3C/P%3E%0D%0A%3CP%3E%3CFONT%20face%3DVerdana%3E%28China%20Daily%29%3C/FONT%3E%3C/P%3E