July 25, 2012 12:28 PM

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Eurozone crisis risk to China growth: IMF

The International Monetary Fund (IMF) has warned that the worsening debt crisis in the eurozone poses a key risk to China's growth. The IMF added that China also faces domestic risks, not least from a sharper-than-anticipated decline in the property market.The IMF said that it expects China's economy to grow by 8 per cent in the current financial year, but warned that a lack of response to the deteriorating crisis in the eurozone may cut that number by half. Growth in China's economy slowed to a three-year low in the second quarter. Its economy expanded at an annualised rate of 7.6 per cent in the three months to the end of June.

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