The International Monetary Fund has raised its growth forecast for China to 6.7 percent, the Government-run Xinhua news agency reports.

“China continues to transition to a more sustainable growth path and reforms have advanced across a wide domain,” said IMF first deputy managing director David Lipton after an annual review of the economy concluded earlier this month.

“Policy support, especially expansionary credit and public investment, has helped China maintain strong growth.”

In April, the IMF’s estimate for annual GDP growth was 6.6 percent. The Chinese economy grew by 6.9 percent in the first quarter compared to the same time last year. The economy grew by 6.7 percent last year.