Despite the negative impact of the European debt crisis,the global growth outlook remains favorable,largely because of the strength of emerging markets. China,as the largest emerging economy,has contributed handsomely to the global economic recovery.In China,after a rapid start at the beginning of the year,growth is likely to ease,mainly because of a partial normalization of the macro policy stance and recent property measures,said the World Bank in its latest China Quarterly Update released on June 18. Edited excerpts follow:
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