ADB raises economic growth forecast

Bank cites the strong service sector, fiscal expansion and export recovery

The Asian Development Bank (ADB) on Tuesday raised China's growth forecast for 2017 and 2018, supported by the strong service sector, fiscal expansion and export recovery.

The bank now expects China's economy to expand by 6.7 percent in 2017, up from a previous projection of 6.5 percent in April, and growth in 2018 is expected to reach 6.4 percent compared to 6.2 percent in its previous forecast.